Article: Foreclosures expected to surge ; Homeowners carrying subprime mortgages are watching their interest rates go through the roof.

EDWARD D. MURPHY Staff Writer
Portland Press Herald (Maine)
01-07-2007
Foreclosures expected to surge ; Homeowners carrying subprime mortgages are watching their interest rates go through the roof.
Byline: EDWARD D. MURPHY Staff Writer
Edition: FINAL
Section: Business

A financial research group is predicting that foreclosures on homes carrying subprime mortgages in southern Maine will accelerate in coming years - with the rate nearly tripling and reflecting a national leap in foreclosures for borrowers with poor credit.

The Center for Responsible Lending projects that 17.8 percent of subprime loans taken out last year in the Portland-Biddeford region will end in foreclosure and the lender ...

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