Over 60% of new foreclosures in Q1 were on adjustable-rate mortgages [ARMs]. "A lot of...

|By:, SA News Editor

Over 60% of new foreclosures in Q1 were on adjustable-rate mortgages [ARMs]. "A lot of people are just walking [away from ARM resets]... It's just a business decision; they don't have a lot of skin in the game."