interestonly: Interest-Only mortgage program, surprisingly, still available - 09/14/12 10:16 AM
The word is that the recent housing tragedy supposedly swept away from the surface of the planet all the highly creative mortgage products that were roundly blamed for some of the ensuing trouble. At least one of them has survived, though, the Interest-Only one. In it, only the interest portion is paid, with nothing going to the principal. It is drawing only scant attention nowadays, but it’s still around, offered at least by Fannie Mae. Its guidelines in this post-crash real estate era are quite restrictive which obviously makes it out of reach and unattractive to most home loan borrowers. … (0 comments)

interestonly: New mortgage product. - 04/26/07 07:17 AM
Good news at last. It took a while. The last several weeks have been tough. The real estate headlines just about everywhere have oozed with subprime troubles this and foreclosure that and home values are dropping and so on. Followed by long and dark narratives about new regulations and who is to be blamed for what. Now the beam of light is shining on a new home loan program from Washington Mutual. At least for the time being.
It's called Mortgage Plus. People who are looking for more flexibility and control are going to be dancing in the streets. It actually combines a … (0 comments)

interestonly: Affordable housing in Vegas. - 03/24/07 07:17 AM
Although home price increases nowadays are leveling off, the unbelievable surge in the recent past has left many homeowner candidates out of the picture. Valley incomes have a way to go before catching up to that real estate escalation. With the median household income less than $50,000 and employing the NAR Housing Affordability Index, southern Nevadafares rather poorly using this criteria, according to Keith Schwer from UNLV's Center for Business and Economic Research.
It appears that resale houses are offered at a lower cost when compared with new homes, but upon looking at the price difference closer, builder incentives, which often are attractive … (0 comments)

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