Attorney Melchionne interviewed on Sub-Prime Mortgages
12, 07 07 23:27 Filed in: What's New
The Connecticut Law Tribune called on Attorney Melchionne recently when it was looking for opinions on the collapse of the sub-prime mortgage market. Writer Douglas Malan was interested to hear that many consumers are finding that their mortgage payments have ballooned to more than 50 percent of their take-home pay after the interest rate resets in the 2-year fixed, 28-year variable rate mortgage loans. Foreclosures in Connecticut have nearly doubled in recent months, with new cases filed in June increasing 87% over the same period last year. To read a full version of the article, click here.