Thursday, July 5, 2007

How much mortgages will reset this year?

Homeowners with about $515 billion of adjustable-rate homeloans will pay more this year, and another $680 billion worth of mortgages will reset next year, Bank of America analysts saidlast month. More than 70 percent of the total was granted tosubprime borrowers, they said.... So it is about 1.2 tril mortgage will reset, 800 billion subprime mortgages.

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