$400 Billion

Posted By: Dr. Frugal in Loans on 11/12/2007 at 06:20:42

Mortgage markets are reporting losses up to $400 billion. The good news, if you can take any good news away at all, is that the number is taken worldwide and not just in the United States.

According to the article (Bloomberg) $1.2 trillion of the $10 trillion of mortgage debt is subprime. To me, while that certainly doesn't sound good, doesn't scream of sudden death. That means that you can collect on 88% of your debt--I think that's well within the regular collection rate isn't it·

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