More from C-L on the delinquent mortgages – can we work our way out of this?

We are hitting the peak months of resets/recasts, yet delinquencies are dropping? 

The banks/servicers must be working feverishly to reset/recast the expected $1.6 trillion in ARMs, or just not reporting lates?  When this is all done, will anyone be surprised that a whole lot of people got a whole lot of free rent?

(Click on this image to enlarge)

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, which began in September, 2005. Stick around!

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