Category Credit crisis

Subprime isn’t over

From Businessweek Option ARMs give you an option of how much to pay each month on a mortgage. There are generally several options or choices. However, once you owe a certain amount (like 110-125% of the original loan amount) then…

The new math

FHA loses $4.6 billion – denies insolvency, but says, um, we need to do something to stop the losses. Not making more idiot loans would be a good start.