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Does the recent increase in foreclosures signal the long-anticipated surge in defaults of adjustable-rate mortgages that were scheduled to reset their interest rates right about now? That’s a question that came to mind when I noticed the recent uptick in new home foreclosures. Option ARMs gave borrowers a choice of paying principal and interest, interest-only, […]

In August, mortgage lenders started so many home foreclosures that the month-to-month increase was the biggest since August of 2007. For nearly a year the number of foreclosures has been relatively low as lenders have reacted to an explosion of challenges to the legality of their mortgage and foreclosure practices. But this new surge in […]