Foreclosures move upstream
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“We are poised in 2010 to see a surge of foreclosures from prime borrowers. Hundreds of billions of dollars in option [adjustable rate] mortgages are set to be recast” next year, said Heather Fernandez, vice president of marketing at the real estate search engine Trulia. “These are [properties] at higher price points [and] potentially in more desirable neighborhoods.”
