February « 2007 « Ask Jack About Debt

Subprime mortgage rules getting tighter.

By Jack, on February 27th, 2007%

It’s going to be harder and harder to get a mortgage if you have a low credit score, no down payment and the monthly bill will be a high percentage of your income. With so-called [...]; . . . → Click Here to Read the Full Article

Mortgage companies got drunk and now they will pay.

By Jack, on February 19th, 2007%

Some facts about the mortgage market from the Wall Street Journal:

• About 80% of subprime mortgages today are adjustable-rate mortgages, or ARMs, that have been nicknamed “exploding ARMs” because they have low fixed-interest payments in their [...]; . . . → Click Here to Read the Full Article

Banks pulling back from “80-20″ mortgage loans

By Jack, on February 15th, 2007%

During the last few years, banks went on a feeding frenzy and started making the kind of loans they always said they would never make. Now they are pulling back. One of the more [...]; . . . → Click Here to Read the Full Article

Watch out for clever “Bait and Switch” on mortgage rates.

By Jack, on February 2nd, 2007%

While doing some web research the other day, one of those pop up ads promised me a mortgage of up to $375,000 at a very low payment. It did not mention the interest rate, but [...]; . . . → Click Here to Read the Full Article