Barbie n.— «Fortunately, Brits can take advantage of the weak dollar in a different way, said Stephen Adams in Britain’s Daily Telegraph. Instead of vacationing in the States, we are buying investment homes there. The new army of...
soft-second n.— «As another example, borrowers could be required to share with the government or with the holder of the borrower’s existing mortgage either the equity created through a write-down or the future appreciation in the home...
drive to qualify v. phr.— «In real estate parlance, families like the McCauslands “drive to qualify” for a mortgage; the big house they want is affordable only in far-out communities.» —“Long commutes, gas prices crimping...
reborn renter n.— «In addition to prospective buyers who are waiting it out, there also is the “reborn renter,” a term used to describe people who have lost their house to foreclosure and are now back on the rental market...
mark to myth n.— «Banking auditors are watching carefully to ensure bank valuations based on in-house mathematical models are not, in the phrase coined by Warren Buffett, “mark to myth.” In the backwash of the credit crisis, U...
exploding ARM n.— «The man Bob Woodward called “Maestro” actually advised Americans to shun fixed-rate loans for adjustable-rate mortgages. Dubbed “exploding ARMs” to describe the impact of upwardly adjusting...