But Norris warns that the county is little more than halfway through its problem with “Alt-A” adjustable mortgages, which targeted a more upscale clientele than the subprimes. Norris estimates that 44 percent of those loans will adjust in 2010 and beyond, totaling 17,500 loans, which could give rise to a new round of foreclosures if the borrowers have the same problems making payments as their subprime counterparts did.
Has worst of housing crisis passed?
Norris Bruce
Bruce Norris is an active investor, hard money lender, and real estate educator with over 30 years experience. Bruce has been involved in over 2,000 real estate transactions as a buyer, seller, builder and money partner.
- The Norris Group
- Phone: (951) 780-5856
- Fax: (951) 780-9827
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1845 Chicago Avenue, Ste C,
Riverside, CA 92507