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Borrowers with ARMs are in a tight spot
Written by Broker Castellano   
Saturday, 02 June 2007

The nearly three dozen subprime lenders across the nation who failed have garnered the least sympathy. Put simply, they gambled and lost.

But some borrowers fall in that category as well because they were looking to profit from house-price appreciation. Instead, they are facing foreclosure. Investors in securities issued against pools of subprime mortgages have also felt pain, as the market value of these securities has declined.

Lehman Brothers estimates the decline at $19 billion. Most of it is concentrated among the riskiest of the securities, which promised the highest yields. (No collection plates are being passed for them, either.) Securities rated AAA, which are first in line to be repaid and last in line to take losses, have been impacted very little.

Read more...
 
Mortgage paydowns have a few minuses
Written by Broker Castellano   
Saturday, 02 June 2007

When the housing market brakes around much of the country, millions of homeowners who think they are going to stay in their home for a while start asking a common question: Is it time to pay down the mortgage?

Adding extra money to your monthly payment isn't only a way of paying the note off early; it will cut total interest expenses and give you peace of mind at a specific time.

Read more...
 
Deciding whether it's time to sell or hang on
Written by Broker Castellano   
Saturday, 02 June 2007

Here's the situation. A couple of years ago two friends bought a condominium together with an adjustable-rate mortgage (ARM), and where they live, the condo market is flat.

One of them just got engaged, so staying in the condo with the friend is not an option.

Read more...
 
Should $7 Million for New Orleans Be A Secret?
Written by Broker Ray   
Wednesday, 30 May 2007
Given the minimal news coverage it's received, you might think that a $7 million donation is an everyday occurrence, something so common it hardly merits comment.

And yet it's a fact that the Bill & Melinda Gates Foundation has just donated $7.1 million to Oxfam America, an international relief and development organization that provides grant money to local community groups.
Read more...
 
Housing By the Numbers
Written by Broker Ray   
Wednesday, 30 May 2007
There's no question that most Americans suffer from obesity. Face it, we're fat. And so are our homes, at least when measured by the number of bedrooms.

According to the latest data from the Census Bureau, one in five occupied houses in 2005 had at least four bedrooms.

Utah, Census says, has more four-or-more bedroom houses that any other state. Nearly four out of every 10 houses in Utah has at least four sleeping rooms. Maryland ranks second at just under three out of every 10, followed by Virginia at 26.5 percent, Minnesota at 26.2 percent, and North Dakota at 26.1 percent.

Read more...
 
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