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?  […]

Sep 8 2009

Option ARM Disaster Arrival: Mortgages More Problematic than Originally Thought. $134 Billion Recasting in Next Two Years. 94 Percent Made only Minimum Payment. Only 35,000 of the 1 million Option ARM loans Modified.

Option ARMs, the dubious name for a mortgage product of financial destruction, are back in the limelight showing that they have not gone away.  Everyone by now has heard about option ARMs.  These toxic mortgages allowed borrowers a buffet of payment options.  However, in recent data released this week we are told that things are […]

Jul 26 2009

Atlas Vacant – The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults.

The commercial real estate bust is going to be legendary. We are talking trillions of dollars. The attention of Americans is being pulled away by massive market volatility that has seen the S&P 500 shoot up 44 percent in four months. Yet the U.S. Treasury and Federal Reserve have kept their eye on this market […]

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