Got this in my email box this morning and couldn’t help but giggle. I’ve written about depreciation in the housing market, job layoffs, people being stuck in houses they can’t afford, facing foreclosure, but at the end of the day… Things could be worse! If you had purchased $1000 of Nortel stock one year ago, [...]

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 [...]

Everyone has heard a foreclosure story recently, but the ones that stick out are the ones from people who normally could afford their homes and weren’t buying McMansions with $30,000 salaries. Case in point, the below three victims this Foreclosure Friday: A Great Life… And Then, Divorce Life happened fast for Kerry and his wife. [...]

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 [...]

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 [...]