A new report by Fitch Ratings, suggests that the the housing market is likely to suffer a new round of foreclosures. The report focuses on the fact that about 70 percent of Adjustable Rate Mortgages (ARMs) will adjust in 2011, leaving the note holders with higher payments. These ARMs represent $189 billion in outstanding debt.

“The Federal Deposit Insurance Corp. (FDIC) has been called in as receiver for eight banks through August 4, 2008, following the closure of four institutions in 2007. Prior to the recent closings, the FDIC had …

There seems to be not end to decline house prices. The S&P/Case-Shiller shows almost 16% decline in prices from last year.. From CNNMoney.com…
“May home prices dropped a record 15.8% from a year ago, according to …