Nationally the situation is not as dire as these figures would
indicate. The figures are being driven by what is happening in a few
large states and by adjustable rate mortgages, both prime and
subprime.
"What continues to drive the national numbers, however, is what is
happening in the states of California, Florida, Nevada and
Arizona. Were it not for the increases in foreclosure starts in
those four states, we would have seen a nationwide drop in the rate of
foreclosure filings...
...
Filed under: adjustable rate mortgage, Mortgage Bankers Association, mortgage meltdown, subprime loans, foreclosure, doug duncan, rate reset, national delinquency survey, delinquent payments, home prices, fixed rate mortgage, fha loans