Current foreclosure rates are on pace to top 1 million this year in the U.S.
That's 10 times the historic average.
More disturbing is the trend from non-tradional loans & arm's to 30yr fixed and prime rate loans as the primary mortgage product seen on these foreclosures.
This signals a shift away from the culprit or onus of blame on bad mortgages, to now becoming a "job", or lack there of, issue.
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