2 Articles match "ARM","Course","Michigan"

The Latest from RealtyTrac MORE
July Foreclosure Report
As the market is absorbing the last wave of subprime foreclosure, another bigger wave of possible foreclosure triggered by Option ARM is preparing to take off. Option ARM loan or so called balloon loan does not reset in two years. Along with the option arms homeowners are faced with growing negative equity. Oil prices U.S. foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details .
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Credit Card and Mortgage Debt Fuels Foreclosure
Among the hardest-hit states were California, Florida, Texas, Michigan, Illinois and Ohio. Of course, that could change as interest rates on adjustable-rate mortgages rise next year and beyond. Rising interest rates have caught many homeowners in a “can’t pay, can’t sell, can’t refinance” vise, in which their ARM payments are outpacing their incomes and their homes have not appreciated enough to help cover the cost of a refinanced mortgage or to allow them to sell and walk away. Debt! No word better describes why millions of Americans are now facing foreclosure.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • Credit Card and Mortgage Debt Fuels Foreclosure
    Among the hardest-hit states were California, Florida, Texas, Michigan, Illinois and Ohio. Of course, that could change as interest rates on adjustable-rate mortgages rise next year and beyond. Rising interest rates have caught many homeowners in a “can’t pay, can’t sell, can’t refinance” vise, in which their ARM payments are outpacing their incomes and their homes have not appreciated enough to help cover the cost of a refinanced mortgage or to allow them to sell and walk away. Debt! No word better describes why millions of Americans are now facing foreclosure.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • July Foreclosure Report
    As the market is absorbing the last wave of subprime foreclosure, another bigger wave of possible foreclosure triggered by Option ARM is preparing to take off. Option ARM loan or so called balloon loan does not reset in two years. Along with the option arms homeowners are faced with growing negative equity. Oil prices U.S. foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details .
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE