Top 10 states with biggest renter occupied housing. Does having a low owner occupied housing rate create a state housing bubble? Renting is the solution, not the problem with the current housing crisis. Rents have fallen for Los Angeles and San Francisco.
Many articles are now finally highlighting the financial benefits of renting or leasing a home. There is no national association with deep budgets that promotes renting so there is little advertising dollars that go into this market. But in many cases, renting is a solid and financially wise decision. Given this current housing market debacle [...]
Big Loans Facing Big Problems – California Prime Jumbo Loan Defaults Rise to 11.3 Percent Putting $167 Billion in Loans in Distress. California Holds 44 Percent of Prime Jumbo Loans and 50 Percent of Option ARMs.
Most Americans will never deal with a jumbo mortgage. With the nationwide median home price of $173,000 a mortgage of $729,750 seems like an absurdity to most people. But in states where housing prices were climbing by leaps and bounds big mortgages were big business. The prime jumbo residential mortgage backed security market is currently [...]
The Option ARM Day of Reckoning for California is Here: 60-Month Window Opens for $134 Billion in Recasts. Why Option ARMs will hit Mid to Upper Priced Homes.
The day of option ARM reckoning is now here. The 60-month window on many of these loans is now over and we are going to enter the first major waves of recasts. In the next two years $134 billion in option ARMs will hit their first recast. This might seem like a tiny amount given [...]