VOTE HERE! Next up? The “Saddleback” Bowl … as in, gold-medal living in the county’s foothill towns! In more pressing real estate news …. O.C ... to this year, adjustable-loans’ low use (back to 1988) was 16% in 1998. If you don’t know, adjustable-rate loans typically offer homebuyers initial cost savings in return for the risk of higher house [more...]
Date: 2009-01-08 01:37:08
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Save My House
Save My House There is an attorney-based loss mitigation company with over 20-years of in-depth experience with foreclosure laws ... Amortization Is an 80/20 loan or short term fixed rate then becomes an adjustable rate, 2/28 or 3/27 ... , so they are in effect current Conversion of an ARM (2/28, 3/37, Negative Amortization) to a fixed loan [more...]
Date: 2009-01-15 13:55:19
Money Mailbox Friday - Countrywide Home Loans
I received a postcard from Countrywide Home Loans yesterday advertising the benefits of their home loan program ... score required Flexible qualifying guidelines 30, 35 and 40-year loan terms available Fixed rate and fixed period Adjustable Rate Mortgages (ARM) options During the housing boom, many of these loan [more...]
Date: 2008-07-18 15:30:58
Subprime Containment Theory Was a Lie
Conventional wisdom (or market spin) was that the risk of default from subprime would not spill over into Alt-A and Prime loans ... was the negative amortization loan. The loan balance can grow each month as the deferred interest is added ... they have not been widely exposed to these loan types. An adjustable rate mortgage resets to a different [more...]
Date: 2009-01-14 03:59:54
John Stumpf Q & A
What Wells Fargo plans to do on a bigger stageExcerpts:Q: In the investor presentation, ... that we didn't understand: negative (amortization loans), Pick a Pay or option (adjustable rate mortgages).We gave up tens of billions of dollars in loan origination volume and millions and millions of dollars [more...]
Date: 2009-01-12 03:28:00
Daddy Warbucks
We’ve notice a lot of stiff upper lips from local movers and shakers in the business community of late. The “recession” word is gone. They are talking about “re-adjustment” and the word “loan” has been replaced with “alternative ... for some new terminology. It’s all part of the game. Remember when “adjustable rate mortgage” [more...]
Date: 2009-01-15 21:35:37
Refinancing an Adjutable Rate Mortgage (ARM) May Not Make Sense
A friend recently called asking for advice on what to do with his Adjustable Rate Mortgage (ARM). His ARM is scheduled to reset in June of 2009 ... charge is fixed for the life of the loan. The number should be on one of the ARM disclosures [more...]
Date: 2009-01-02 19:04:36
Thinking Of A Mortgage Loan Modification? Evaluate Your Current…
Homeowners have different reasons why they need a mortgage loan modification. Many are prompted to apply for a new loan because of lower interest rate. Some are changing from adjustable rate to fixed rate. Others want to tap the equity of their home for home improvement, take a vacation or pay for college tuition.But whatever it is, mortgage refinancing provides an opportunity to save money. But how will you know if you can really save by refinancing your current loan. [more...]
Date: 2009-09-29 17:48:03
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