Last year I touched on what an Option ARM is (also referred to as Neg-Am [Negative Amortization]) and how millions may lose their homes as a result of them being pushed on those who already cannot afford a home. If you look at the video below, you’ll see how sneaky Option ARM’s can be […]
Archive for February, 2008
Around town, new home builders tend to raise incentives before dropping price. After all, they report the full sales price, so dropping prices for them is a slippery slope of loss. With incentives, they can give deep “discounts” to buyers, while artificially inflating the price so that their other communities can sell higher.
The US Treasury Department has announced a measure that they hope will save homeowners from foreclosure. Dubbed “Project Lifeline”, it hopes to give folks a chance to find new mortgage options and offers a delay in foreclosure for 30 days.
Having come close to it personally (my short sale story), and having met hundreds of […]