No Hope for Option ARMs or Alt-A Loans – Loan to Value Ratios of 169% Simply do not Qualify for Help and Cement the Destiny for Billions in California Loans. Two Case Examples in Irvine and Garden Grove.
One of the big problems that really isn’t addressed when discussing option ARMs or Alt-A loans is the fact that many are tied to the hip with second liens. If it wasn’t bad enough to have one toxic mortgage imagine having two. It is also a bad twist of fate that most of these loans […]
The Complete Guide to Toxic Mortgages and the Housing Situation of California – Option ARMs, 55 Percent of Jumbo California Loans are ARMs, 794,000 Distressed Properties, and Failed Loan Modifications.
An updated chart highlighting the option ARM and exotic mortgage loans made during the height of the bubble still shows us that many loans will go bad in the next couple of years. We need to remember that the vast majority of troubled option ARMs were made from 2004 to 2007. While analysts claim that […]
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 […]