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acorn: Get HELP, before you lose your home! - 03/21/07 10:37 AM
I usually try not to add fuel to the pessimistic fire that has engulfed the housing market over the last year and a half, but some stories need to be told.  According to a February 13 article in the Detroit News, by Louis Aguilar, Wayne County posted the highest rate of home foreclosures among major metro areas in the nation during the month of January.  The foreclosure rate was so high in fact, that it was 7 times more than the national average.  Oakland and Macomb Counties have been hit pretty badly as well, and when you combine the foreclosure rates … (7 comments)

acorn: Study Warns of Pending "Rate Shock" for Homeowners - 09/08/06 04:13 PM
STUDY WARNS OF PENDING "RATE SHOCK" FOR HOMEOWNERSPredatory Lending has been a major concern lately, but law makers and watch groups have mostly concentrated their attention on predatory practices such as pre-payment penalties, excessive fees, high interest rates, flipping, excessive yield spread premiums and balloon payments. Until this year their has been very little recognition of the prevalence of adjustable rate mortgages in the subprime market. I consider the following very interesting: According to the ACORN study, "while ARM loans account for about 24 percent of all home loans nationwide...in 2005 ARMs made up 75 percent of all subprime loans, a … (2 comments)

 
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