Mark's Notebook


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S.J. among top in high-risk loans

San Jose Mercury News

Thursday 26 May 2005, 1:23 pm
Keywords: News Articles

With home prices spiraling higher at a double-digit pace, nearly half of the borrowers in the San Jose area took out risky "interest-only" mortgages in the first quarter of this year, according to data released Wednesday.

That's five times the level of interest-only loans in 2002 and double the level in the nation as a whole.

http://www.mercurynews.com/mld/mercurynews/news/local/states/california/the_vall
ey/11742228.htm