Just yesterday, we covered an article titled, “Can Ya Spare A Job Brother?” which covered the job losses on a national level, but today, AZFamily is bringing it down to a more local level here in the Valley of the Sun. Foreclosures, financial troubles and even layoffs; the housing bubble has begun to burst and [...]

Not only here in Arizona, but nationally, we’ve seen mortgage companies and real-estate related companies start to go belly up or start to liquidate their workforce. First Magnus/Great Southwest went bankrupt and lost their banking license, lenders are now being sued for the housing bubble blowup, and even one of the largest lenders, Countrywide, has [...]

For a while, most folks felt secure knowing they were over the 620-640 FICO mark with their credit score. This number of course being the rough borderline for subprime credit. And up until now, that was pretty much all you needed. However, as the housing bubble bursts open, it gets everything wet. We’ve been watching [...]

Earlier this month, Ron Paul, an internet superstar as far as presidential candidates are concerned was interviewed on Kudlow & Company regarding the housing bubble. So far we’ve seen President Bush say “No” to a federal bailout, while some democrats like Hillary Clinton are proposing otherwise. With a complete turnaround in mortgage rates, it’s tough [...]

What is an Option Arm? It is an ARM on which the interest rate adjusts monthly and the payment adjusts annually, with borrowers offered options on how large a payment they will make. The options include interest-only, and a “minimum” payment that is usually less than the interest-only payment. The minimum payment option results in [...]