Word: options
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Delinquencies are also getting much worse among holders of option adjustable-rate mortgages (option ARMs). These loans, typically made to borrowers with prime or near-prime credit scores, let soon-to-be homeowners pick from a menu of monthly payments - often including an option that didn't even keep up with the interest due. As home prices have fallen, the number of option ARM borrowers running into trouble has surged, with 15.25% of loans delinquent and another 7.46% in foreclosure. Some analysts think the problem in option ARMs could eventually rival the size of the subprime meltdown. (See pictures...
...course, a better option than getting laid off, not receiving our 2008 tax refund or being unable to drive through an abandoned highway repair project - the brutal realities of a state in freefall with no balanced budget. But it's still a bit of a shock. "The average Californian hasn't figured out exactly what this particular budget means for him or her yet," says Mark Baldassare, president and chief executive officer of the nonpartisan Public Policy Institute of California. "But they're going to feel it soon...
...from industry that regulating CO2 would be expensive and maddeningly complicated. That's a point well taken. Something needs to be done to slow the rise in U.S. carbon emissions, but while in the absence of a national carbon-cap law federal regulation may be our only short-term option, it's not the best-case scenario. "It's a backup plan," says Doniger. (Watch a video about the next big biofuel...
...contributed to the Web site. Medical professionals who have signed up to edit the site have praised Medpedia for its potential to bridge the gap between doctors and patients. Michael N. Strong, a post-doctoral fellow at HMS, said the Web site’s distinguishing feature is the option to view articles in either “plain English” or “clinical” terms. “I originally signed up out of curiosity, and I think the goals they’ve set up are excellent goals,” he said...
...measure of their country's unwillingness to meet the international consensus that Israel trade land for peace with its neighbors. Ever since Hamas took control of the Gaza Strip and began launching rockets into Israel, fewer and fewer Israelis see trading land for peace as a sustainable option. Nevertheless, during the Israeli military incursion into Gaza earlier this year, most Israelis were shocked to find that public opinion in Europe and the U.S. did not automatically support what they considered an appropriate act of self-defense. A Netanyahu government may end up merely giving last rites to a peace process...