August 2007

Two problems with adjustable-rate mortgages (ARMs) began the mortgage meltdown earlier this year: rate resets and payment "recasts."

Resets are simple enough to understand: a low interest rate…

UPDATE: Turns out this one is also being offered for rent – $3,850/mo.

Of course, almost all this activity is last month's news (or older) finally settling out with escrows closing. Good reminders, though, that the news doesn't all go in one direction. That's…

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