Industry News

Foreclosures, foreclosure starts hit record highs

MBA expects 1.5 million foreclosure starts in '07
Published on Dec 6, 2007

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by CareyBot

The rate of foreclosure starts and the percentage of loans in foreclosure hit record highs during the third quarter, suggesting 1.5 million homes will enter the foreclosure process in 2007, the Mortgage Bankers Association reported today. Subprime adjustable-rate mortgages (ARM) ...