All Posts Tagged With: "only"
Mortgage Surprise? What Mortgage Surprise?
The most used word in the world of mortgage financing during the past few weeks has been “surprise,” as in, “oh my, cover your eyes and turn away from those poor wretched loans.”
“The U.S. mortgage giant Freddie Mac said it would no longer buy those high-risk home mortgages that it deems to be [...]
9Nov2009 | Peter G. Miller | 0 comments | Continued
Foreclosure Numbers at New Highs: Are Toxic Loans To Blame?
Foreclosures used to be a rarity and for the most part that’s still the case. As of the second quarter of 2008 only about 2.75 percent of all loans were in the process of being foreclosed, according to the Mortgage Bankers Association.
That term “in the process of being foreclosed” is important. Neither borrowers nor [...]
Is It Time To Buy Less?
It has been a most-interesting few weeks in one of the nation’s hottest real estate markets, the area just outside my front door.
As someone now in the process of selling, I am elated by current market conditions: As long as the check clears I heartily approve of interest-only loans; I believe the availability of [...]
The Beauty of Interest-Only Loans — And The Beast
There’s no doubt that the newest trend in real estate financing is the interest-only loan, a trend which needs to be examined with care by anyone who prefers to avoid poverty.
An interest-only loan is both what it seems and not what it seems. It’s interest-only debt for some or all of the loan term, [...]
Should We Return To Straight Mortgages?
My grandfather was always proud of the way he financed his home. Family lore says he bought a row house on a dirt road — in Brooklyn! It was an immigrant’s dream, financed with an interest-only “term” mortgage that lasted three to five years. At the end of the term you either paid off the [...]
17Sep2008 | Peter G. Miller | 0 comments | Continued
Toxic Loans & The Art of Denial
There’s an idea which has been voiced with more and more frequency and it generally goes like this:
I have a toxic loan but why worry? After four years or so — just before the monthly cost of this loan doubles — I’ll just go out and get another interest-only or option ARM, begin the [...]
Real Estate Exit Strategy: What If There’s No Way Out?
One of the great wonders of modern life is the ability to borrow — and borrow and borrow and, well, you get the idea.
I always tell folks there is no shortage of either lenders or loans, the real question concerns borrower preferences. If a borrower is sufficiently “motivated” then there are always loans to [...]
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