Reverse Mortgage: A Last Resort? - 2004-03-22
Question: My mother-in-law is 80 years old, in good health, and resides in a condominium. She holds a $50,000 mortgage with a 7.5 percent interest rate and 15 years to go before it will be paid off. I am considering suggesting that she refinance with an adjustable 5- or 7-year mortgage, or alternatively that she obtain a reverse mortgage. What do you suggest?

Answer: There are a number of options available to you and your mother-in-law, but obviously only she can make the final decision as to what is best for her.
Read the full story at Realty Times

Phoenix Mortgage Defaults almost 1500 Per Month - 2004-03-22
Despite good economic news, and a robust housing market sustained by low interest rates and rapid population growth, postings of new notices of foreclosure auctions in the Phoenix metro area have reached nearly 1500 per month in early 2004.

"3285 properties in the Phoenix area have entered the mortgage foreclosure process in the first nine weeks of 2004," Foreclosures.com president Alexis McGee reported today.
Read the full story at Business Wire