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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: maceng2 who wrote (52828)7/28/2009 9:53:15 AM
From: TobagoJack  Read Replies (1) | Respond to of 218639
 
changes coming, for the wiser, as wastrel arizona may adopt the money-rock hong kong way to mortgage, at least in part, astutely

just in in-tray ...

Arizona Set to Implement Recourse Mortgages

But the impact of the change is much larger.

It makes some homeowners in foreclosure liable for the difference between their mortgage and what their lender can recoup from reselling the house.

In the current housing market, the difference is generally more than $100,000 on the typical Valley foreclosure.

azcentral.com


this has always been the case in hk and is a good idea that
helps to prevent or otherwise keep residential pricing bubbles smaller than would otherwise foolishly be.

now,

(i) should arizona adopts the monthly adjustable rate without cap as is the case in freedom kowloon, and

(ii) feature margin-call (should asset value drop, bank has right to call for additional downpayment at any time) per the situation on money rock hong kong, and

(iii) get rid of the mortgage asset securitization foolishness in alignment with liberty islands macau,

arizona would be on way to true enlightenment.