Posted on 05/24/2006 9:38:32 AM PDT by ex-Texan
NORTHEAST FLORIDA -- The rise in foreclosures that analysts predicted would follow an easing in lending restrictions, low interest rates and creative mortgage products has emerged in metropolitan Jacksonville.
Recently released data from California-based RealtyTrac Inc. showed the five-county metro area experienced a 39 percent increase in foreclosures over last year's first quarter, or 3,579 foreclosures for the first three months of this year compared with 2,570 for the same period in 2005.
The increase was just above the national foreclosure increase of 38 percent for the first quarter, which RealtyTrac analysts said could mean foreclosures going above 1.2 million in the United States this year.
(Excerpt) Read more at msnbc.msn.com ...
Arms are an always will be a suckers bet. I will never get one.
Well, mayor aside, I was refering to there elected and re-elected Congresswoman, Corrine Brown. What a jewel! The race cards fly every re-election.
I went up to google and found that Anchorage, Alaska covers something like 1,756 sq. miles, where Jax is 759, if I remember correctly from yesterdays search. The only reason I knew that JAX was no longer the largest of all fifty states is that it cost me fifty bucks back in the mid eighties. As far as the 48 contiguous states, JAX's has held the record for quite some time.
Georgia, which I believe has the most counties of any state, could save a ton of tax money by reducing the number of counties. Of course the county politicians would never let that see the light of day. As far as people saying that Savannah, Georgia is so much greater than JAX or SC, after living in Savannah for over seven years, I wouldn't brag that much about that place. The Schools are terrible and most people in SAV are drop outs. Other than the great Deep Sea Fishing, Seafood, and pristine unpopulated coastline. Georgia is mixture of two states within the state. The Metro Atlanta area is completely different from the rest of the state as far as the people go.
I believe what he's describing is NEGAM loans. Many loans start out with a "teaser rate", often 1%. The beginning payments are calculated at 1%. However the loan is designed to allow the rate to change more frequently than the minimum required payment amount changes. Often, the second month of the loan, the rate changes up to a higher rate, but the payments do not adjust for another year... So for the first year the borrower is making payments equivelent to a 1% loan, but they are being charged a higher rate during that time, so the additional interest is added to the principal of the loan. This is called "negative amortization" or "NegAm".
Many loans put a limit on how much the payment can increase, at a scheduled payment adjustment, so that the loan can remain in negative amortization for years before the borrower is forced to pay a full payment on a loan and actually begin reducing the principal, which at that time is much higher than the principal they started out with.
Usually such loans have a provision to cap the negam amount at 110%-120% of the original loan value, at which point the loan "re-casts" and the borrower is then hit with a dramatic increase in their required minimum payment amount.
Don't blame us For Corrine Brown, the Repblican Party refuses to support anyone who runs against her.
Does any Republican have a chance in her district? At least they could elect a Democrat with half a brain. Oh, that's an oxymoron. never mind....
From Wikipedia: Sitka, AK
According to the United States Census Bureau, the borough is the largest incorporated area in the U.S, with a total area of 12,461.8 km² (4,811.5 mi²). 7,443.6 km² (2,874.0 mi²) of it is land and 5,018.2 km² (1,937.6 mi²) of it, or 40.27%, is water.
Sitka displaced Juneau, Alaska as the largest city upon the 2000 incorporation with 2,874 square miles of incorporated area. Juneau is 2,717 square miles and was formed through incorporation of the borough and city in 1970. Jacksonville, Florida is the largest city in area in the contiguous 48 states at 758 square miles.
She runs unopposed on the Democratic ticket.
Maybe they'll start calling them "houses" again, instead of "homes." Most realtors are very stupid people. They believe that it was extremely clever to start calling "houses" "homes," because then we would all have warm fuzzy feelings and be willing to pay more for a "home," instead of just a "house."
They are very serious about this, and think that they are great psychologists always to call "houses" "homes." That is the funny part. But what do you expect from a bunch of total losers, at least in the IQ department?
I'm actually looking for a 3 unit building with one of the 3 units being the 'home'. :)
I used to work with a company tht does ads for realtors and they are some of the most self absorbed yet airheaded people in the world.
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