Filed Wednesday, June 6. 2007
Are Chicago business journalists finally starting to understand the issues that generate foreclosures?
Last week, Crain’s Chicago Business ran a story about the rise in foreclosures within the Chicagoland area. It’s good to see they pointed out something we uncovered and talked about six months ago. Though they focused on adjustable-rate mortgages (ARMs) being the cause for most of the defaults, it’s more complex than that.