In 2008 there will be more of the short term fixed rate loans that will convert to adjustable than any year in history. As a result, this is expected to lead to record foreclosure rates.
Areas that have seen growth far beyond what income supports will take the hardest hits. For example, home values in [...]

Popularity: 2% [?]

Last week the lending market changed dramatically as secondary lenders pulled their credit lines for stated income jumbo products. Many lenders have had to eliminate jumbo loans entirely. The entire Alt A classification seems to be all but eliminated.
As these credit lines were pulled many mortgage brokers went out of business almost overnight. Pipelines of [...]

Popularity: 2% [?]

The banks really don’t want your house. It is a costly event for them to foreclose on your property. The average cost of a foreclosure is $40,000. In addition there has been an increasing amount of pressure placed on banks to provide bailout solutions to troubled homeowners.
The Federal Reserve, Congress, the Senate, and presidential candidates [...]

Popularity: 2% [?]

It is clear that the increase in foreclosures caused by negative amortization loans and short term fixed teaser rates has prompted some state governments to get involved by offering a bailout program. In addition to regulatory pressure on lenders the state of Maryland has stepped up to provide a program to help borrowers get out [...]

Popularity: 3% [?]