NO ONE WAS HURT – THIS TIME August 30, 2009
Posted by Sue in Ask The Broker.Tags: Real Estate, social media, twitter
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Goddard Offers Foreclosure Workbook August 25, 2009
Posted by Sue in Ask The Broker.1 comment so far
AZ Attorney General Goddard tells lenders to ease up in Arizona Republic article today: “Foreclosures are devastating families and communities across Arizona and America.” Billions of dollars of payment-option adjustable-rate mortgages (ARMs) were originated in Arizona, particularly near the end of the housing bubble. These loans allowed many consumers to buy homes and make a minimum payment that is only a fraction of the interest due on the mortgage. More than 120,000 payment-option ARMS are expected to reset in Arizona in the next 12 months. According to experts, a large percentage of payment-option ARMs could default once the reset is made.
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