Option ARMs Performing Worse Than Subprime

13 Jul 2009

Option adjustable-rate mortgages are doing proportionally worse than subprime mortgages for the third month in a row.

Option adjustable-rate mortgages are doing proportionally worse than subprime mortgages for the third month in a row. According to First American CoreLogic, as of April 36.9% of the option ARMs, also known as pick-a-pay loans, were delinquent 60 days or more with 19% in foreclosure. By comparison, subprimes ...

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