Quote:
Originally Posted by AlienQ
5% of US MOrtgages are defaulted? Where you find this?
The U.S. mortgage market is estimated at $12 trillion[14] with approximately 9.2% of loans either delinquent or in foreclosure through August 2008.[15] Subprime ARMs only represent 6.8% of the loans outstanding in the US, yet they represent 43.0% of the foreclosures started during the third quarter of 2007.[16] During 2007, nearly 1.3 million properties were subject to foreclosure filings, up 79% versus 2006.[17]
http://en.wikipedia.org/wiki/Subprime_mortgage_crisis |
As noted, this is just a comment someone posted. However, I just heard on the CSpan that 5% of mortgages are defaulted, I guess the other 4.2% are just delinquent but not forclosed?
I don't doubt that it will get much worse but that's where we are now from what I can tell.