1.8 Million Sub-Prime Mortgages Poised To Surge
Monday, January 7th, 2008The news handed down by U.S. Treasury Secretary Henry Paulson was glum today: as many as 1.8 million sub-prime mortgages are poised to reset over the next two years. Currently pegged at historically low rates, these mortgages will suddenly surge as the adjustable rate period kicks in. The result will ...