Those with defaulting bad credit mortgages are soon to be joined by larger numbers of those considered “prime” borrowers by banks. Although much of the media focus has been on bad credit mortgages, experts are now seeing data that the overall economic crunch is starting to affect even those that were thought to be immune […]
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Bad Credit Mortgages Force Drop at Bank of America
Posted on April 23rd, 2008 by justin
Bank of America announced today that they will setting aside $6 billion to help cover their bad credit mortgage debt that is spiraling out of control. This is the latest bank in the United States to be hit by the bad credit mortgage crisis. The company is having issues with their customers defaulting on their […]
Bad Credit Mortgages Affect Wachovia
Posted on April 16th, 2008 by justin
Wachovia, one of the largest banks in the United States announced today that they expect more of their “pick a pay” or bad credit mortgages to go into default. The company has been hit hard by the housing crisis and numerous customers are choosing to go into default rather than refinance or find a different […]
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