Coming Our Way…
There is a HUGE problem headed our way. Think it’s bad now — look what this winter and next spring are going to bring.
According to BofA’s estimates, approximately $515 billion of ARMs are scheduled to reset in ’07, followed by approximately $680 billion in ’08. Furthermore, of these ARMs, we estimate that subprime loans consist of $400 billion (78%) in ’07 and $500 billion (73%) in ’08. Mortgage Correction Just The Tip Of The Iceberg
