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Loan Modification

: Mortgage Lender Implode-o-Meter

Gary Shilling On Why Underwater Homeowners Will Double From 23% to 40% Shortly

By Implode-Explode Heavy Industries

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"To wit: the CEO of Gary Shilling & Co. sees home prices tumbling another 20% over the next few years, and the number of underwater mortgages nearly doubling from 23% to 40% (meaning nearly half of America will likely strategically default as nobody has any initiative to pay down their mortgage when they know there is no equity value left)"

Full post as published by Mortgage Lender Implode-o-Meter on October 23, 2010 (boomark / email).

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