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Subprime Mortgages Scrutinized: Thousands Face Foreclosure.
- Article from:
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Hartford Courant (Hartford, CT)
- Article date:
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April 11, 2007
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Copyright informationCOPYRIGHT 2007 The Hartford Courant. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kenneth R. Gosselin
Apr. 11--As troubles deepen for high-risk home mortgage borrowers, the state will try to determine how many homeowners in Connecticut holding so-called subprime mortgages now face foreclosure and how those affected can best be helped. Gov. M. Jodi Rell said Tuesday she is forming a task force to study the issue after several high-profile subprime lenders, including one in Connecticut, filed for bankruptcy, costing thousands their jobs. It is estimated that $8.1 billion in subprime mortgages have been underwritten for properties in Connecticut, and about 10 percent of those are past due, leaving thousands of homeowners facing foreclosure, ...
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