Sep 30 2009

Option ARMs in Financial Pain: 900,000 Mortgages and 1 out of 4 either Seriously Delinquent or in Foreclosure. OCC and OTS Report Shows Foreclosures Still Growing.

It is interesting to see new data being published regarding Option ARMs in the new OCC and OTS report.  According to the recently released report, there were 900,000 active Payment Option ARMs in the United States.  What is troubling about the current report is the performance of these loans.  Many of these loans are located […]

Sep 20 2009

The Art of Strategic Mortgage Defaults: The Coming Wave of Foreclosures in California. 588,000 People Nationwide Stop Paying Their Mortgage Even Though they had Funds to Pay.

Throughout the current housing crisis, most of the negative economic data has been clumped into one large group.  That is, housing has been a nationwide problem and job losses have impacted virtually every state.  Yet there is a coming crisis that has its targets on very specific states.  In fact, many states will not even […]

Sep 13 2009

Interest Only Mortgage Time Bomb: $71 billion in Loans will Reset in next 12 Months. Total Loans Outstanding at $908 Billion. Average Balance of $324,000. Median U.S. Home Price $178,000.

Interest only (IO) loans seemed like a viable mortgage option when home prices were appreciating on a double-digit basis every year.  The interest only loan allowed borrowers the option of making no principal payments for 5, 7, or even 10 years.  Now why would someone not make any principal payment for such a long time?  […]


Enter your email address to receive updates from My Budget 360:

100% Private & Spam Free.



Categories



wordpress stats