|
| |
foreclosure: Option ARMs are the next wave in foreclosures? - 08/20/08 11:28 AM
Credit Suisse has reported that a second wave in the foreclosure crisis may be on the horizon. Option ARMs, which I've probably ranted about enough (see Wachovia Reigns In Pick-A-Pay Parts I and II), are scheduled to start resetting en masse around 2009, with the most reset volume coming in 2010-2011. A particularly onerous feature of these loans is that even if your first scheduled reset is five years, the loan can reset sooner once your negative amortization reaches a certain point.
The payment shock is expected to be much more severe for option ARMs than for subprime ARMs. You think a 10% … (6 comments)
|
foreclosure: June is National Homeownership Month - 06/03/08 02:36 PM
This month, we celebrate National Homeownership Month. The celebration is meaningful for what it says not only about our ambition in creating more access to the American dream of homeownership, but also for what it means when our ambitions fall short.
President Bush designated June as National Homeownership Month in 2002, with the goal of adding 5.5 million minority homeowners by the end of the decade. Achieving this goal would have a major effect on our nation. Historically, homeownership has been step one in the creation of wealth for Americans, leading to better economic prospects, access to more financial resources, and … (0 comments)
|
foreclosure: June is National Homeownership Month - 06/03/08 02:32 PM
This month, we celebrate National Homeownership Month. The celebration is meaningful for what it says not only about our ambition in creating more access to the American dream of homeownership, but also for what it means when our ambitions fall short.
President Bush designated June as National Homeownership Month in 2002, with the goal of adding 5.5 million minority homeowners by the end of the decade. Achieving this goal would have a major effect on our nation. Historically, homeownership has been step one in the creation of wealth for Americans, leading to better economic prospects, access to more financial resources, and … (2 comments)
|
foreclosure: Federal tax changes of note - 02/21/08 09:35 AM
There are several changes and additions to the tax code for 2007 filings. As we know, the Senate passed an economic stimulus package last week. The high point of the deal is a special, one time payment to American taxpayers. Individuals making less than $75,000 per year and couples making less than $150,000 per year should receive from $600-$1200 from the government.
According to an article from the Wall Street Journal Online, several other major changes should bring relief to taxpayers and homeowners. The biggest in my book is mortgage debt relief for homeowners who lose their homes to foreclosure. Say … (0 comments)
|
|
|
|
|
|
Tamara Heyward
Durham,
NC
More about me…
Self-Help
Office Phone: (919) 956-4423
Cell Phone: (919) 490-7014
Email Me
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)