It seems that the continuing Subprime mess is about to get messier. With Adjustable Rate Mortgages (ARM) for Subprime borrowers adjusting this quarter, the economy definitely showing signs of recession (first job cutbacks in 5 years, foreign investment in U.S. dollars and bonds down) it’s no wonder that everyone’s starting to think the sky [...]

Too many people are waking up nowadays, finding that the Adjustable Rate Mortgage ‘good deal’ they bought a few years ago isn’t such the good deal they thought it was, now that it’s adjusting upwards. Assuming that they would be able to re-finance to a similar rate and continue on after the adjustment is [...]

While roaming the blogosphere, I came across this article on the Consumerist – Graphs: Monthly Mortgage Rate Resets, 2007-2016. (Originally from Credit Slips – Is This Just a "Sub-Prime" Mortgage Crisis?)
The article gives a compelling warning that in coming years there’s going to be a lot of upset with the various mortgage and loan [...]

It’s no news that the mortgage industry is in something of a tailspin nowadays. Foreclosures are at a high, and prices are sinking like an anvil in quicksand. What’s worrying isn’t so much that mortgage companies are suffering, but that there’s a domino effect on society that is just now starting to show itself.
One of [...]

The National Association of Realtors released it’s Sales of Existing Homes  report, showing that median home prices had dropped 8% nationwide. The Northeast (surprise!) was hardest hit with an estimated 10% drop in sales since August.
Lawrence Yun, NAR’s senior economist, said the numbers are understandable. "Mortgage problems were peaking back in August when many [...]