AdjustableRateMortgage

After allegations of deceptive marketing from eight states, Wells Fargo has reached a settlement agreement. The bank will forgive $772 million in risky home loans and will pay $24 million to help reduce the impact of foreclosures on various communities.

One of my friends is worried because he's got an Adjustable Rate Mortgage (ARM) on his home and it's going to reset later this year. He's got an unusual financial situation, and hasn't been able to find a company that will refinance the house. Of course, he's worried that once the ARM resets, his...

Countrywide has just announced a plan to "help out" more borrowers who are in trouble on their home mortgages, particularly the ones with adjustable rates. The goal is to help people avoid foreclosure through a change in repayment terms. If you've got a loan with Countrywide and you're behind on...

The rate of foreclosures in California during the last quarter of 2007 is double the rate of the last record quarter. There were 31,676 foreclosures during the fourth quarter, about double that of the previous record set in 1996. In comparison, the lowest rate of foreclosure occurred in the second...