Mortgage defaults spread as even ’safe’ borrowers falter
{ Posted on jul 12 2009 by Seeker }
THE SACRAMENTO BEEBy Jim Wasserman and Dale Kasler Ron McClure of Roseville is already in the foreclosure process. He had a prime, fixed-rate loan; then the housing market collapsed, and with it the income from his small home-building businessThe mortgage default crisis has an ominous new face. It’s your neighbor with a traditional fixed-rate loan. No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners’ faces. As theSacrament
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