Commercial Loans Blog

Housing Meltdown is Only Half Over

Posted by George Blackburne on Sun, May 17, 2009

Pretty Scary Report from 60 Minutes

The television show, 60 Minutes, recently aired a terrifying report that suggests that the housing meltdown is less than 50% completed. The problem is that 2.5 trillion in Alt-A and Option ARM's are coming up for rate readjustments in late 2009 and 2010.

Here's a link to the report:
http://www.youtube.com/watch?v=iUuROWEMjm0&eurl=http%3A%2F%2Fwww.silverbearcafe.com%2Fprivate%2F05.09%2Fmeltdown.html&feature=player_embedded

Topics: 60 Minutes, Alt-A, ARM's