August 25, 2006

Subprime mortgage Borrowers default

Real Estate Slow Down — aj @ 4:42 pm

Speaking of H&R Block:

“The company said it would take a charge of $61.3 million, or 19 cents a share, to reflect an increase in the number of its subprime mortgage customers falling behind on their loan payments. H&R Block’s woes will likely extend to other subprime lenders, analysts said, as borrowers with less-than-stellar credit histories struggle to keep up their payments as rates rise.”

Via MSNBC

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