Housing lenders fear bigger wave of loan defaults
Bob Morris @ Aug 4th 2008 00:35 - Category: Credit crisis
The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.
Delinquencies for prime mortgages doubled in April compared to one year earlier while Alt-A mortgage delinquencies quadrupled, up to a whopping 12%. These mortgages are for those with good credit, and are not subprime.
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