26 Mar 2007 07:23 am
A local perspective on the subprime mortgage crisis
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| Are there people with subprime loans in Asheville NC? Yes. Are some of those people going to have problems when their mortgages readjust? Yes. And if you think you are one of them, we encourage you to contact your lender sooner than later to explore your options. Remember, the people who are predicted to face the greatest problems are those in states with stagnant or declining real estate values where it will make it difficult to impossible for an owner to refinance into a conventional loan. Expect to see the most significant impact in states like California, Florida, Arizona and Nevada, where real estate prices had a huge run-up or in the industrialized states like Michigan, which have had heavy job losses. |  |
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