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Real Estate
The Real Estate Adviser |
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July 17, 2008
The Real Estate Adviser: ‘Option ARM-ageddon’: more loan trouble ahead
In a recent column, shortly after Washington Mutual announced it would no longer offer its Option Arm to mortgage customers, I noted that the program was a benefit to our family because it allowed us to adjust our monthly payments given the educational needs of our four growing children.
I pointed out that three of the four payment options of the Option Arm did not render negative amortization, yet too many consumers stayed with the minimum payment for far too long and owed more than they borrowed.
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Previous columns:
- The Real Estate Adviser: Wondering where to park that yacht?, 07-10-2008
- The Real Estate Adviser: Flexible loans good option if you understand them, 06-26-2008
- The Real Estate Adviser: Real estate IRAs: Know the 4 no-nos, 06-19-2008
- The Real Estate Adviser: New law is bad news for reverse mortgages, 06-12-2008
- Weekend drive could lead to dream vacation property, 06-05-2008
- The Real Estate Adviser: Can't sell? Try keeping your house as a rental, 05-29-2008
- The Real Estate Adviser: That home loan may come with free air miles, 05-22-2008
- The Real Estate Adviser: Chilly U.S. home markets make lenders look south, 05-15-2008