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I went back in time on some research today, re-reading the post, "The Coming Foreclosure Boom".  It wasn't from so far back as November 5, 1955 (it was only from March 2006), but it felt like ancient history to me.

Some of the highlighted ideas in that original blog entry are worth revisiting today. 

I especially like the reference to California boasting lowest foreclosure rate standing because of its massive equity buildup.  Once the equity slowed, we know now, the foreclosures began.

Some bullet points:

• A large percentage of loans will adjust this year and next
• Interest rates are heading higher because of inflation
• Mortgage lenders are tightening their lending guidelines
• Most homeowners have no idea how or when their ARMs will adjust

As I said when the post was first written -- regardless of your mortgage type, get yourself in front of financial planner or mortgage planner or somebody that can help you understand your risks and exposures to the mortgage market.

There's more to this mortgage game than just having a 30-year fixed.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.