DaCounselor – Thanks for the info. There has been much hay made with respect to the mortgage reset chart. Many of the resets for sub-prime as well as Alt-a and prime that occurred in 2006 and 2007 were huge jumps, and the resulting jumps in foreclosures are influenced by those in concert with declining prices.
Many have speculated that the second wave of loan resets coming in the next 12 months will be worse than the effect of the resets thus far. However, people need to consider the potential that many alt-A and prime borrowers with loan resets in 2008-2009 will not be hit nearly as hard as the sub-prime folks circa 2006.
