Record foreclosures for prime borrowers 

The foreclosure starts rate for borrowers with prime, fixed-rate mortgages set a new record high during the third quarter, the Mortgage Bankers Association said in releasing the results of its quarterly National Delinquency Survey.

As the pool of subprime and prime adjustable-rate mortgage (ARM) loans continues to shrink, unemployment is the greatest threat to homeownership for the 78 percent of borrowers whose homes were purchased with prime, fixed-rate mortgages or FHA-guaranteed loans.

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Professional Membership for $199/year OR
Premium+ Membership for $149/year OR
News Membership for $69/year

Buy Now

Advertise with Inman

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.