Sunday, March 05, 2006

Foreclosures increase on high-risk mortgages

Eyewitness News - Foreclosures increase on high-risk mortgages: "More Rhode Islanders are losing their homes to foreclosures.
The number of foreclosures on subprime mortgages�those given to people with less than perfect credit�is increasing.
Subprime mortgages carry higher-than-average interest rates. Rhode Island has the largest portion of them in the nation. More than one in four mortgages issued to Rhode Islanders in 2003 were subprime"
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