Word: mortgagee
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Is the option adjustable-rate mortgage the next subprime disaster? For anyone who remembers that souring subprime loans kicked off the real estate meltdown, that's a scary thought. Recent analysis from Standard & Poor's (S&P) anticipates that a full 37.5% of such loans (dubbed option ARMs) that were...
How worried should we be? Perhaps very, according to a chart from a recent report by Amherst Securities. The chart shows the dollar value of loans that will undergo a 10% or more jump in monthly payments, an amount that plenty of families would find unaffordable considering nearly 1 in...
Smaller government is a venerable American philosophy - though one not always consistent with the public's passion for Medicare, farm subsidies, mortgage deductions, aircraft carriers and name-your-favorite-cut-of-pork. And calling forth the spirit of America's tea-dumping colonists in Boston has never been easier than...
Senator Christopher Dodd, the Democratic chairman of the Senate Banking Committee, recently broke off negotiations with Senator Richard Shelby, the ranking Republican, a politician so committed to bipartisanship that he placed a hold on all Obama Administration appointees to extract some pork for Alabama. Now Dodd is trying to negotiate...
He said he plans to use his winnings to help pay off his mortgage.