Homeowners stuck as lenders cinch standards

USA Today reports:

OWNERS AT RISK
Almost 3 million homeowners with shaky credit have adjustable-rate mortgages. Refinancing those loans will be hardest in areas where home prices are falling. Here is a look at the top 24 metro areas with the largest home-price declines at the end of 2006 and the percentages of homeowners with subprime loans who face higher payments by the end of 2008.
Metro area
Home-price decline

Reset risk
Akron, Ohio
-7%

60%
Barnstable/Yarmouth, Mass.
-8%

58%
Bloomington/Normal, Ill.
-6%

58%
Bridgeport, Conn.
-5%

58%
Cape Coral/Fort Myers, Fla.
-12%

63%
Columbus, Ohio
-6%

50%
Daytona Beach, Fla.
-5%

56%
Gary, Ind.
-4%

63%
Grand Rapids/Muskegon/Holland, Mich.
-4%

56%
Indianapolis
-4%

51%
Kennewick/Richland/ Pasco, Wash.
-4%

63%
Miami/Fort Lauderdale
-6%

60%
New Orleans
-9%

49%
Edison, N.J.*
-4%

60%
Palm Bay/Melbourne/ Titusville, Fla.
-17%

61%
Pensacola
-4%

64%
Reno
-9%

59%
Sacramento
-4%

51%
San Diego
-5%

59%
Sarasota/Bradenton, Fla.
-18%

63%
Springfield, Ill.
-10%

62%
Toledo, Ohio
-7%

67%
Worcester, Mass.
-5%

59%
Youngstown/Warren, Ohio
-8%

66%
* = includes Newark, N.J., Nassau/Suffolk, N.Y., and 23 counties in New York, New Jersey and Pennsylvania. Sources First American LoanPerformance, National Association of Realtors