Tucson’s “Foreclosure Hot Zones”
KVOA 4 - So, they took out a second mortgage for almost $80,000 to enhance their new home. It was at 8% interest. When the housing bubble burst, that $100,000 in equity evaporated. But, the interest on that second adjustable rate mortgage by now had climbed
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Mortgage market hangover could choke holiday sales
Rocky Mountain News - In addition to the common second mortgage, or home-equity loan, a popular method was to refinance with a larger mortgage reflecting a home’s greater market value. Borrowers then paid off their original mortgage and pocketed the remaining cash - called
Caught in a Toxic Mortgage
AOL - The couple took out a second mortgage to free up some cash. Shortly after that, they say they received a phone call from an independent mortgage broker asking if they were interested in lowering their interest rate to 1 percent. Who wouldn’t be? “I was
NFL calls on Ticketmaster to stiffarm scalpers
Ars Technica - Yes, teams have an interest in making sure fans can afford to attend a game without taking out a second mortgage (although said mortgage will certainly come in handy when it’s time to buy beer, hot dogs, a program, and a souveneir jersey). What the