mortgage loans, subprime lending crisis
Did that title catch your attention? We haven’t even seen the tip of the iceberg on this issue, yet, I fear. Once Congress gets involved, there’ll be much more media attention. There was a very good article in today’s New York Times about subprime...mortgage loans, subprime lending crisis
Bryan Andrews, 49, a carpenter, and his Susan, 51, a nurse, previously had a 5.75 percent fixed-rate mortgage. In 2004, in an attempt to save some money, they took out an option-ARM. You know, the type of loan where you can either pay the regular amount, over the...mortgage loans, subprime lending crisis
Over the past couple of years, more and more people have been taking out “exotic loans”. Mostly, when people say, “exotic loans”, these days, they are talking about “option ARMs”. Most commonly, option ARM loans offer borrowers four...