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Surprise, Surprise Alt-A and Subprime Delinquencies are…UP

Started by morganb · 1 year ago

Reuters has the 411 on mortgage repayment and the results shouldn’t surprise anyone.  Alt-A (your good credit no income) loans and subprime (bad credit, not-so-much income) loan repayments are slowing and delinquencies are rising.

No surprise either that the 2007 vintage of subprime mortgages is the worst on record as those that got in last are [...] ... Continue reading »

5 comments

  • Conductus

    1 year ago

    Want to see a stop-motion video about a couple of mice who must second-guess their real-estate-purchase descision? I made this video recently. Please check it out and comment. Thanks.

    Blemish and Pittance: The New Place
    reply
  • eh

    1 year ago

    Not to worry -- it's contained to Alt-A, which in turn contains subprime. We have full containment. Kind of like Chernobyl.
    reply
  • morganb

    1 year ago

    the good news is its contained to planet earth!
    reply
  • ann

    1 year ago

    Ok..did my stomping grounds of 33071..scary stuff..although it shows decent household income, it reflects a high amount of piggybacks from 06 as well as a high percent that are overburdened by their home..considering that home values from peak are off by as much as 50%(example house bought in 05 for $950K..sold in 5/08 as foreclosure for $500K -4,000 sq ft..7 bedrooms 4 bathrooms)..I would say that most homeowners(HELCO) face the decision being ball and chained to their home for the next 20 years or walking away...P.S...homes are expected in this area market to continue down another 10-20%...yikes!

    And the beat goes on..
    reply
  • morganb

    1 year ago

    the beat surely does. the graphs are scary. how many people give up? the
    number surely gets worse over time...
    reply

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