Monday, June 11, 2007

Who's most at risk for foreclosure?

Who's most at risk for foreclosure? - Buying a House - MSN Real Estate: "Who's most at risk for foreclosure?

There's a flood of foreclosures coming -- about 1.1 million of them, a new study estimates. Here are the borrowers who are most likely to lose their homes.
By Holden Lewis,
© Comstock Select/Corbis

You have a 1-in-3 chance of losing your house to foreclosure if you got an adjustable-rate mortgage, or ARM, in 2004 through 2006 that had an initial teaser rate of less than 4%.

If you got a subprime ARM in that period, you started out with a higher rate, and that puts you at less risk. You have a 1-in-8 chance of losing your home." San Diego for sale by owner