May 25, 2008
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Landlords with adjustable-rate loans see payments skyrocket
With existing home sales continuing to drop nationwide, the housing foreclosure crisis appears to be soldiering on, at least for now. But homeowners unable to pay their mortgages aren't the only side of the issue - landlords are feeling the pain, too. Investment property owners, many of whom purchased homes at the peak of the mid-2000s housing boom, are finding their mortgage payments doubling or even tripling while rents become more and more competitive.