Monthly Archives: July 2007

Did you know: After 30 years, a 30-year term mortgage is paid in full. After 30 years, a 40-year term mortgage has 57% of the original borrowed amount remaining. After 30 years, a 50-year term mortgage has 81% of the … Continue reading →

So you’ve read about the current housing glut and you’ve see stories on TV about it. And yet, you wonder, why are so many new buildings still being built? The answers lies in timing. Building homes is not an overnight … Continue reading →

The Dow Jones Industrial Average lost 311.50 points yesterday. On the rankings of Top 10 Daily Losses of All-Time, 311.50 doesn’t even come close, according to djindexes.com (and the charts above) So, as we always do, let’s put yesterday’s action … Continue reading →

This video from CNBC does a terrific job of illustrating how sub-prime mortgage defaults are impacting mortgage rates overall. There’s some jargon in there, but overall, it’s very easy to follow.

June’s Existing Home Sales reported weaker than expected and dropped from prior levels, according to the National Association of REALTORS. Because our country (A) loves to discuss real estate, and (B) loves statistical headlines, expect tomorrow’s newspapers to emblazon one … Continue reading →

Mixed news from the sub-prime sector, depending on how you look at it. Many lenders discontinuing their short-term ARM products. Washington Mutual, Countrywide and Wells Fargo are among the sub-prime lenders no longer offering the 2/28 mortgage product. The “2/28″ … Continue reading →

Sales of homes categorized as “new construction” are slower than in recent years. For May 2007, the Census reported that builders are carrying a 7-month inventory. This is up from 6.2 months in May 2006 and down from 8.3 months … Continue reading →

If you own a home and somebody else depends on your income, consider that the leading cause of home foreclosures is not “adjustable rate mortgages”. As cited many times over (including by a Harvard law professor), the answer is medical … Continue reading →

Creating a garden is part art, part science. There are plenty of resources that can teach you how to garden, but just like books can’t teach you how to make beautiful art, creating beautiful gardens requires a teacher and a … Continue reading →

Interest only loans get a lot of bad press — mostly because many people used them as a way to live beyond their means. However, for a family that actively manages their finances, interest only loans can add an extra … Continue reading →