ARM Resets: Tsunami Ahead (at CNBC)

ARMS, MORTAGES, MORTGAGE LENDERS, DEFAULTS, FORECLOSURES, ECONOMY, HOUSING, U.S. ECONOMY, GLOBAL ECONOMY If all real estate is local, it's also true that what's ailing the market can sometimes spread from one area to the next. That seems to be the case with home foreclosures and the role of two particular kinds of alternative mortgages, which have yet to achieve the villain status of the subprime market.... [read full story]