South Florida owners are losing their homes; foreclosures rates rise nationally
2006-07-16
The number of foreclosures is ballooning as strapped homeowners can no longer make their mortgage payments or quickly unload properties in a cooling housing market. Among those most at risk: owners who used creative financing to stretch their budgets in the 2000-2005 housing boom. Buyers who took out a five-year adjustable-rate mortgage in 2000 are seeing their house payments rise for the first time. .