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Loan Modification

: Mortgage Lender Implode-o-Meter

Long-term unemployment woes increasing rate prime mortgage foreclosures

By Implode-Explode Heavy Industries

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" As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages. The result is a huge increase in foreclosures among primes. In the first three months of the year, prime fixed-rate loans accounted for nearly half of the increase in foreclosure proceedings, according to the Mortgage Bankers Association."

Full post as published by Mortgage Lender Implode-o-Meter on June 09, 2009 (boomark / email).

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