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 [...]
The California Home Buying Debate: Southern California Home Sales Broken out in Price Tier Ranges. The Amount of California Home you can Afford is Probably Less Than you Expect.
For many prudent prospective home buyers, many who have saved diligently for years, many are licking their chops to purchase a home in California. But let us be honest, most are looking to purchase in selective markets like Marin County or parts of the Westside here in Southern California. They hear about the 50 percent [...]
The Forgotten GSE: Fannie Mae Backs 1 out of Every 4 U.S. Residential Mortgages. Default Rates Have Tripled Since Last Year.
The two enormous government sponsored entities Fannie Mae and Freddie Mac have garnered little attention since their government take over late in 2008. Fannie Mae was placed into conservatorship on September 6, 2008 when it was brought under the Federal Housing Finance Agency (FHFA). But the losses keep mounting. In the second quarter Fannie Mae [...]