Credit reset a headache for mortgage market – New York Post

Yes, they’re still out there. Underwater homes like this one, worth less than what’s owed. And as presumably once advised, many once lured by attractive, extremely low introductory rates may soon meet the adjustable rate part of their mortgage when financial markets do what they do, adjust.

It happens all the time.

Don’t get me wrong, adjustable rate mortgages are a fantastic tool, but only when used wisely.  I learned this the hard way in the early 2000’s, after getting a friend into an Option ARM with a 2% teaser rate that would soon adjust so far above that it made the mortgage unaffordable. She ended up having to refinance with another lender, again paying the closing costs, commissions and other fees that come with. Of course, disclosures were made, but it is easy to glass over details when we can get what we want at a payment (notice I didn’t say price) we can afford, a “let the cards fall where they may” approach. Needless to say, things were a bit tense after that and, besides the one about doing business with friends and family, there’s another cautionary tale within, which is to thoroughly understand contracts entered into. Too many similarly face sudden increases in monthly housing costs they can’t afford, becoming the next to face the all too familiar foreclosure crisis as a result.

But like every commodity, real estate values (or lack thereof) are cyclical. One truth of it is that real estate is a stable, profitable investment by any measure; another is that people buy and sell real estate through all cycles. And, when you’ve worked with everyone from the novice to the savvy investor and from the distressed to the homeowner recovering from said distress since 1997, you realize there are keys to meet every goal and overcome any problem. The question is…

…which, if any, is yours?

• Real estate locating, analysis, acquisition, sales and management
• Foreclosure help
• Commercial lending
• Private and hard money
• Credit services
  • Restoration
  • Business credit
• Incorporation
• And more

Be it from the start of a dream to invest in real estate to the recovery from a nightmare certainly, there’s an aisle in this market for most.

Now, you might be thinking, “That sure is one good-looking mascot, how does he do it all?” or “How do I keep the ball rolling?” Thought you’d never ask! Submit the consultation request to your right to get all the details you need to keep that ball rolling and then some. And so will clicking there. That’ll get it rolling too…

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