Mortgage Issues - Fortune Magazine Sept 3
There is a great graphic in Fortune Magazines September 3rd issue that clearly illustrates the time-line of variable rate mortgages due to have their interest rate reset in the next 18 months. It clearly shows that December of 2007 will be the peak of the mortgage resets with $50.7 billion reseting that month where January of 2007 had $27.0 billion. We don't get back down to that range until October of 2008. In total more than $482 billion in loans will have their Interest Rate reset.
This clearly shows that our training in Foreclosures and Short Sales will get much use over the next few months.
Take care!
RJH
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