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November 21, 2008 8:22:58 PM CST

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adjustable-rate mortgages

adjustable-rate mortgages news stories

5 Stories

How One Woman's Home, and Dream, Foreclosed

One woman's story helps us understand today's financial mess

Sacramento Bee Sacramento Bee Oct 26, 08 6:42 PM CDT
(Newser) - When a California woman bought a home 3 years ago, she had little idea that her mortgage would help drag down the nation's economy—and the world's, the Sacramento Bee reports. Erin O'Hagan and two family members pooled incomes to buy a $475,000 Sacramento home, and planned to refinance before their adjustable rate rose to 12.75%. "The first year was the best," she said. More »

More about:  Financial Crisis • foreclosure • home values • adjustable-rate mortgages

OPINION

Feel Good Again About
Your Pricey House

In 10 years, you'll be back in the black

Los Angeles Times Los Angeles Times Aug 17, 08 7:59 PM CDT
(Newser) - Bought an expensive house right before the subprime crash? Fret not, writes Chris Ayres in the Los Angeles Times . With 5% inflation, lower interest rates, and a mortgage tax deduction, buyers of pricey houses will be smiling in 10 years. "If you're a boom-time buyer who can still pay the mortgage, you have more than you think to feel happy about," writes Ayres. More »

More about:  economy • housing crisis • interest rate • homes • housing bubble • adjustable-rate mortgages

New Wave of Foreclosures Expected in '09

ARM holders will see payments soar as their mortgages reset

BusinessWeek BusinessWeek Jun 7, 08 10:44 CDT
(Newser) - America’s subprime victims may have grudgingly accepted their fate, but there’s a new class of borrowers primed to suffer, BusinessWeek reports. Homeowners who took out ARMs, or adjustable rate mortgages, will soon face skyrocketing payments as their loans reset. About a million people have the mortgages, but only a small number have already fallen due. “It's a ticking time bomb inside your house that you can't get rid of,” one insider said. More »

More about:  US economy • housing market • foreclosure • subprime mortgage crisis • debt • home sales • homeownership • lending practices • adjustable-rate mortgages

 Foreclosures Go Upscale 

It's taken longer for ballooning loans to hit the wealthy, now facing the music

Washington Post Washington Post May 15, 08 10:11 CDT
(Newser) - Luxury homes—once seemingly immune from the mortgage crisis—are starting to hit foreclosure lists across the nation, the Washington Post reports. And, real-estate agents predict, it’s just the beginning of a trend likely to grow as more buyers who bought beyond their means with adjustable-rate and interest-only mortgages are hit by the economic slowdown. More »

More about:  housing market • foreclosure • credit market • mortgage • adjustable-rate mortgages

 US Must Stop
 Foreclosures,
 Bernanke Warns 

He warns of cascading crisis

Los Angeles Times Los Angeles Times May 6, 08 2:35 CDT
(Newser) - Federal Reserve Chairman Ben Bernanke yesterday called for government intervention to halt home foreclosures, warning that to do nothing could "destabilize communities, reduce property values of nearby homes, and lower tax revenues." Bernanke said in a speech in New York that a million Americans were already three months behind in mortgage payments at the beginning of this year, threatening dire consequences for the future of the economy, reports the Los Angeles Times . More »

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