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Get out the scuba gear we're under water.(60% of us are)

Started by Riversider
almost 17 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
http://www.housingwire.com/2009/10/13/fitch-sees-60-of-current-rmbs-borrowers-underwater/ he majority — 60% — of remaining performing borrowers within ‘06- and ‘07-vintage residential mortgage-backed securities (RMBS) bear negative home equity, meaning they are underwater on their mortgages and owe more than their houses are worth. This overwhelming presence of negative equity is hampering sustained improvement in RMBS performance, according to Fitch Ratings. “[N]egative equity reduces a borrower’s inventive to pay their mortgage and limits their options when faced with financial difficulties,” said senior director Grant Bailey in a statement.
Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008

so I guess the "blanket statements" turned out to be pretty true...

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