May 18, 2012, 4:47 am
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Nextage Realty Professionals

Times are Tight- We Need to Change the Way we Think

Times are no doubt tight.  This Christmas will be the tightest ever for many people.  We are all learning how we can save a nickel here and there.  For my family and friends, giving to the needy seems to be at an all-time low.  I have found myself avoiding adding just a few cents to my [...]

JP Morgan Chase to Resume Foreclosures Later This Month

Many of the pundits have looked for a long delay in foreclosures to create a glut of REOS in Arizona including Prescott and Prescott Valley.  Well, the delay has been called off and we should have a steady supply of foreclosures in the next few months.   One thing folks need to understand is that banks are holding [...]

60% of Performing Borrowers from 2006-2007 are Underwater on their Mortgages

Is your Prescott or Prescott Valley Home Like This?

Fitch Ratings-New York-13 October 2009: With a majority of borrowers in U.S. RMBS transactions owing more on their mortgages than their homes are currently worth, negative home equity is preventing sustained improvement in U.S. mortgage performance, according to the new monthly report ‘Fitch RMBS Performance Metrics’ available [...]

Payment option ARMs are about to explode in Arizona

State magistrates met last week to discuss strategies for combatting mortgage fraud and the topic of payment option ARMs was a central theme.  

 In Arizona – one of the states hardest hit by the mortgage crisis – 128,000 option ARMs will reset in the next year, State Attorney General Terry Goddard told Reuters. The San Francisco-based mortgage [...]

No one signs their mortgage planning on foreclosure, but…

“Life is what happens while you’re making other plans.”
Richard Dreyfuss in Mr. Holland’s Opus

No one moves into a home and takes on a mortgage planning on foreclosure.   But divorce, medical issues, job loss, job transfers, and life changes can all lead to to foreclosure or short sale. If your bad luck is temporary, you might miss [...]