Word: owings
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...TIME's article on foreclosure was heartbreaking. How is it that some people pay more to pamper their dogs than other people pay for their mortgage? Also, how does one pay $800 a month for health insurance yet still owe $15,000 in medical bills? I think this story uncovers another part of the financial industry that has contributed to the economic meltdown. Thank God we finally have a President who gets it. Bonnie Huggins, CENTENNIAL, COLO...
...this for odds: If you have a house in Las Vegas, there's a 58% chance you owe more on your mortgage than the place is worth. Nevada, of course, is ground zero for the real estate bust - but it's hardly alone in having truckloads of "underwater" homeowners. As of December, 19.8% of mortgage holders nationwide had negative equity in their houses, according to a new report by loan-tracker First American CoreLogic. That tally, which takes into account both first and second mortgages, represents 8.3 million homeowners, 700,000 more than when the firm checked in September...
...bigger problem is the tanking economy. Lose a job, and paying the mortgage becomes more of an issue. Since the house is worth less than you owe on it, you can pretty much forget about refinancing or selling, the old get-out-of-jail-free cards when you could no longer make your payments. So maybe we should be most worried about the 50% of homes that are underwater in the Detroit area. Or - odd as it may sound - Rhode Island, where the unemployment rate, at 10%, is second only to Michigan, and where 15.7% of mortgage holders are underwater...
...some measures, such unlikely spots are in even more danger than California, which is suffering a brutal real estate slump after years of speculative excess. That's because Midwesterners owe more on their properties than left coasters. The average loan-to-value ratio in California is 70%, while Nebraska and Iowa clock in at 75% and 76%, respectively. As the recession deepens and home prices continue to slide, there are fewer and fewer places to hide...
...includes several songs—“Forest Edge” and “Down from Above”—that would fit anywhere in Vetiver’s canon, the new bearings manifest in “Tight Knit” seem to owe more to the rhythm and crunchy horns of sixties funk and the melodies and vocal style of nineties indie pop than to the Americana and “Naturalismo” of previous recordings. The problem is that no matter how attractive and enjoyable these songs are to listen to, they...