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No Mortgage Meltdown For These Banks
not far from Manhattan, Hudson City Bancorp has a lending philosophy that dates back decades: You can get a dull, boring, mortgage from Hudson at a very low rate — but only if you put equity into the property. Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good,
www.realtytrac.com - Tuesday, February 3, 2009
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Option ARM Borrowers Running Out Of Time
Lastly, we have the real attraction of option ARMs, the option payment itself, a payment which is insufficient to even pay off the monthly interest cost. Because Fitch says that a 40-year loan term represented 4 percent of all option ARMs in 2004 -- but 38 percent by 2007. A loan with four payment options may seem fairly understandable, but in the real world a lot of borrowers did not take out option ARMs because they wanted to make fully-amortizing payments. Option ARM Borrowers Running Out Of Time By Peter G. Miller    Step right
www.realtytrac.com - Tuesday, February 3, 2009
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New York Versus Freddie Mac: Round One
big chunk of the real estate market will close down. This seems to make a lot of sense until you enter the real world. Such investors are essentially buyers of IOUs secured by real estate, IOUs which hopefully will yield a given level of interest and never require a foreclosure. According to The Language of Real Estate , “a holder-in-due-course enjoys New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York.
www.realtytrac.com - Tuesday, February 3, 2009
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