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This graph is a good indicator of what is to come (and when).  It shows that subprime ARM resets will hit their peak in the next few months, while the Option ARMs, Prime ARM, and Alt-A ARM resets will peak in the next 36 months or so.The sheer numbers are staggering, especially in the subprime ma...
As foreclosure rates rise, more and more "Foreclosure Savers" are popping up.  They are, of course, targeting unsuspecting homeowners who are having trouble paying their mortgage payments and are scared to call their mortgage servicer to discuss a payment plan.According to an article on Yahoo! Fi...
How do you "buy" a better rate?  Great question - let me tell you.A point -- which equals 1% of the total loan amount -- is an up-front fee that lowers your annual interest rate and total interest due over the life of your loan.  So, a one point loan will have a lower interest rate than a no poin...
On August 29th, 2005, I was sitting in a hotel room in Fort Walton Beach, FL, with my wife, my best friend, and his wife.  We were attempting to watch the news between power outages, sitting in the sweltering heat, and listening to the wind rage outside.  The air conditioner had given up the ghos...
From Yahoo! Financial News: Since the start of the year, more than 38,000 workers have lost their jobs at mortgage lending institutions, according to recent company layoff announcements and data complied by global outplacement firm Challenger, Gray & Christmas Inc. Meanwhile, construction compani...
Lehman Brothers has just announced that they are closing their subprime mortgage unit, BNC Mortgage.  The move will mean the loss of approximately 1200 jobs in 23 locations.  They stated that current market conditions have forced them to reduce its resources and capacity in the subprime market.Th...
How to Reduce Your MortgageOne Additional Mortgage Payment a YearThere's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal.This is the met...
 NCAAF Rankings  Rankings: Week 1 (Preseason) Week:  1    Bowl Subdivision Polls AP Top 25 1.USC (62) 2.LSU (2) 3.West Virginia (1) 4.Texas 5.Michigan 6.Florida 7.Wisconsin 8.Oklahoma 9.Virginia Tech 10.Louisville 11.Ohio State 12.California 13.Georgia 14.UCLA 15.Tennessee 16.Rutgers 17.Penn Stat...
 I had to file bankruptcy - what do I do now?A bankruptcy filing delivers a devastating blow to your credit and FICO score, but it doesn't mean you have to wait 10 years before you can qualify for a mortgage. Many consumers who have filed for bankruptcy have been able to obtain a mortgage, althou...
Things to avoid when buying a homeMany new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out...

Gareth Bourriague

Benchmark Mortgage
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