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Monday June 19, 1:12 pm ET
By J.W. Elphinstone, AP Business Writer
AP Centerpiece: Foreclosures Expected to Jump As Riskier Adjustable
Mortgages Reset
NEW YORK (AP) -- In 2003, Anita Britten refinanced her two-story brick
cottage in Lithonia, Ga. using a hybrid adjustable rate mortgage, or ARM.
Her lender reassured her that she could refinance out of the riskier loan
into a traditional one when her interest rate started to reset.
Three years later, Britten can't ...   more »