The New Mortgage Dynamics and the Anatomy of a Pay Option ARM Borrower. 850,000 Option ARMs Still Outstanding and 40 Percent in Distress. 4 Reasons to Walk Away from your Option ARM.
It is hard to believe that 13 percent of all mortgages are either in foreclosure or some other form of distress. This can stem from a missed payment from an unexpected job loss or mounting pressure of servicing current debt. To a large degree the allure of the option ARM product came from the ability [...]
Housing’s Treacherous Path: From 44 Percent Homeownership to 70 Percent. The Levittown Dream and Nothing Down Madness. How a Nation lost its way with Homeownership.
It is a fascinating case study in the perceived power of homeownership that even after our economy was brought to its economic knees by a massive housing bubble that the government, Wall Street, home buyers, and sellers somehow view homeownership as our ticket to getting out of the financial mess. That is, the housing poison [...]
San Francisco Shadow Inventory Larger than Regular MLS Data: How the Real Housing Inventory is Hidden from the Public.
Once upon a time in California, housing prices aligned with national prices. You don’t need to go back into the legends of the state because this was a time in the 1960s and early 1970s. At this point, housing in California started to disconnect from economic fundamentals. Many people forget that California had a housing [...]