While many accounts portray resetting rates as the big factor behind the surge in home-loan defaults and foreclosures this year, that isn’t quite the case. Many of the subprime mortgages that have driven up the default rate went bad in their first year or so, well before their interest rate had a chance to go higher. Some of these mortgages went to speculators who planned to flip their houses, others to borrowers who had stretched too far to make their payments, and still others had some element of fraud.
在今年涌现的房贷无法偿还和丧失抵押赎回权的背后,很多帐户还被描述成调整利率是主要的工作, 这远非整个局面的全貌. 许多使房贷无法偿还的次贷抵押在他们的第一年已经变得更差,或者在不久前它们的利率已经有机会变得更高. 这些次贷抵押一部分在准备计划抛售他们的房子的投机者手里, 一部分在已经承受很高支付压力的借贷人手中, 还有一部分具有欺诈因素.
sounds like a machine/software is doing the translation, without fully understand the specific context. how about try again.
个人感觉上面的翻译不是很好，我重新将前面几段翻了一下，如有不妥之处，欢迎各位指正。
The subprime mortgage crisis is poised to get much worse.
次贷危机势必加重。
Next year, interest rates are set to rise -- or "reset" -- on $362 billion worth of adjustable-rate subprime mortgages, according to data calculated by Bank of America Corp.
While many accounts portray resetting rates as the big factor behind the surge in home-loan defaults and foreclosures this year, that isn’t quite the case.Many of the subprime mortgages that have driven up the default rate went bad in their first year or so, well before their interest rate had a chance to go higher. Some of these mortgages went to speculators who planned to flip their houses, others to borrowers who had stretched too far to make their payments, and still others had some element of fraud. 根据美洲银行的计算数据, 明年要调高或调整利率的可调利率次贷高达 3620 亿美元 。尽管很多人认为，今年住房贷款违约和止赎事件频发的主要原因是利率不断调整，但事实却并非如此。在推动违约率的次级抵押贷款中，很多第一年前后的状况就已经很糟糕了，此时距其利率调高时间尚远。这些抵押贷款中，有些到了计划进行房屋翻新出售的投机者手中，有些因借贷人压力过大而无法偿还，也有一些则存在欺诈行为。
Now the real crest of the reset wave is coming, and that promises more pain for borrowers, lenders and Wall Street. Already, many subprime lenders, who focused on people with poor credit, have gone bust. Big banks and investors who made subprime loans or bought securities backed by them are reporting billions of dollars in losses.
目前正是调整的真正高峰，这势必给借贷者、放贷者和华尔街造成更大伤害。事实上，很多主要面向信用不良人士的放贷者已经破产。从事次贷或购买次贷抵押证券的大型银行和投资者损失已高达几十亿美元。
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