The second wave of mortgage defaults and foreclosures will hit the economy this year
February 6, 2010 @ 3:00 am
The second wave of mortgage defaults and foreclosures will hit the economy this year. Not only will we have failure in prime loans and option-arm loans, but we are faced with a new crop of subprime and ALT-A loans put into motion by Fannie Mae, Freddie Mac, Ginnie Mae and FHA.