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A potential meltdown in the subprime mortgage market has economists calling for more slowing in the housing market. Not surprisingly, delinquency and foreclosure rates released last week are much higher for subprime borrowers.

How many homeowners have subprime loans in a metro area and how far behind those borrowers are on their monthly payments will dictate how much more these risky loans could drag down the housing market.

What has some watching Arizona is its high ranking for subprime loans, No. 2 nationally, only behind Nevada, according to the Mortgage Bankers Association of America. Almost 17 percent of all homeowners in Arizona have subprime loans. In Nevada, the rate is 19 percent. Florida is No. 3 with about 16 percent. .

MORTGAGE LENDERS Bankruptcy News, Issue No. 8

( EMAILWIRE.COM, April 05, 2007 ) FAIRLESS HILLS, Pa. -- Bankruptcy Creditors' Service, Inc., published Issue No. 8 of MORTGAGE LENDERS BANKRUPTCY NEWS today. The 13-page newsletter contains stories with these headlines: [00087] HEFFERNAN'S MOTION TO STAY STATE CRIMINAL PROSECUTION [00088] DEBTOR'S APPLICATION FOR THELEN REID AS REGULATORY ATTYS. [00089] DEBTOR'S MOTION TO .

What To Look For In A Foreclosed Home

The first thing you should look for – or look forward to - is weeks and even months of diligent research. The opportunities in foreclosed homes often fall into the old adage, “If something sounds too good to be true, it usually is." What is true is that some foreclosed homes will sell at 30% to 40% below market. But according to the editor of one real estate investor's publication, “Most foreclosed homes sell at 5% below market."

If the foreclosure opportunity you're looking for is an investment opportunity, then you would be wise to review five years or more of real estate sales history in the area. Have the homes appreciated sufficiently to make your investment risk worthwhile? The property doesn't have to be in an exclusive neighborhood, but it should be in an economically stable area.