Adjustable borrowers face up to 35% spikes in mortgage payments
(NEWSER) - When adjustable-rate mortgages are increased this year, hundreds of thousands of subprime borrowers could lose their homes, triggering a precipitous drop in the housing market, CNNMoney reports. The threat is the latest in the emerging subprime loan crisis. Heartland industrial areas, as well as once-hot markets in California, Nevada and Florida, are expected to be hit hard. More»
