16% of Mortgages May Go To Foreclosure by 2012

It was bad enough that Credit Suisse projected 6.5 million foreclosures over the next five years, back in April. This month they upped the ante to over 8 million potential foreclosures or about 16% of all mortgages in the United States. The frightening thing about such projections is that they are (so far) turning out to be fairly accurate. In this case, the projection indicates that 2008 was actually the peak year for subprime foreclosures. The next few years will be the heyday for forec

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