"Have an adjustable-rate mortgage? Brace for an adjustment"

Foreclosure rates might jump in the coming months due to upcoming adjustments in the adjustable mortgage rates.

Michele Derus of MILWAUKEE JOURNAL SENTINEL reports:

"About 25 percent of outstanding home mortgages carry adjustable interest rates due to adjust upward soon, said Douglas Duncan, chief economist for the Mortgage Bankers Association in Washington, D.C."

I anticipate the rates and economy to play a big part in the rise of foreclosure rates.

filed under: foreclosure investing