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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (6366)9/12/2007 2:42:28 PM
From: Broken_Clock   of 50417
 
Yes, CO has been a leader in foreclosure rates nationwide as well.

What Ron is seemingly ignorant of is the deadly combo of exported job losses coupled with a refi boom nationwide. Sadly, I personally know many boomers that refied to help the kids in college, get new cars, spec a 2nd home in order to boost retirement, etc. Now it's time to pay the piper and it's Mean Street USA.

In August, 57% couldn't refi when the ARM reset. They will likely all end up in foreclosure.
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