Joe asked:


Have most sub-prime mortgages been “adjustable”?

Are foreclosures up so high because people lost their jobs?

Or are foreclosures so high because the loans adjusted to such a high rate of interest that people are unable to make the payments? If so, about how many percentage points did the “reset” go up compared to the initial terms?

Were the size of the “resets” much higher than would have been expected? Or were the resets no surprise?

gabasnon asked:


I have not heard a lot of talks about it coming from our politicians since after the election.

Brian B asked:


Here’s the deal. The last five years I have made my living flipping houses and owning rental property. Everything was going great until last fall. I fell off a ladder and boke my leg in 5 places . I was unable to walk or do any physical labor for 6 months. And long story short I lost everything. By the time it was all said and done I had 15 of my places get foreclosed on including my house.I’m probably going to end up filing bankruptcy because I don’t have the money to pay the creditors what I owe them. I understand that can’t go back out and get a mortgage tommorrow but my question is will I ever be able to buy a house again? And if so. Realistically how long before I can get a mortgage?