The adjustable rate mortgage is starting to haunt some houses in the Bay Area as foreclosures show a sharp increase in just the past year.
Wayne Freedman of ABC television station KGO-TV in San Francisco reports that foreclosures have more than doubled in San Francisco and Solano counties and have increased by more than one half in Santa Clara.
The ABC7 report quotes one mortgage broker who blames buyers and some realtors. Check it out for more details.
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Article Author: Charles FeldmanCharles has written 179 articles for us.
Visit Charles's Website: http://www.thefeldmanblog.com
Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog, as well as on The Huffington Post.
Joshua Dorkin
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Wow interesting, its gonna get worse before it gets better. thanks for the read.
thanks for the read!