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Loan Modification

: The Truth About Mortgage.com

Over $47 Billion in Prime and Alt-A Interest-Only Loans to Recast Over Next Year

By scot184

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More than $47 billion in prime and Alt-A mortgages where borrowers are currently making interest-only payments are set to recast to fully-amortizing payments over the next year, according to Fitch Ratings. ?This recast exposes borrowers to an average payment increase of 15% and possibly higher if interest rates increase,? the company said in a release. ?Over [...]

Full post as published by The Truth About Mortgage.com on January 11, 2010 (boomark / email).

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