Alt-A Problems – Just Getting Starting
Soon many Americans will become familiar with the term Alt-A loans just like they have over the past two years with subprime loans. While it appears the subprime problem has peaked, we apparently are at the beginning stages of the Alt-A meltdown.
The Star Tribune has run some stories discussing the foreclosures that are now starting to happen in the suburbs. While some of those properties had subprime loans, I believe we’ll start to see more and more Alt-A loans go bad in the burbs causing more defaults and foreclosures.
Calculated Risk and Housing Wire both have excellent posts on Alt-A.
Categories: Alt-A, Foreclosures, Mortgages, REO Property, Subprime, Twin Cities Real Estate
