Study sees rising risk in ARMs; Borrowers may fail to weigh pitfalls

Interest rates are rising, and adjustable-rate mortgages are growing in popularity because they allow borrowers to start out with lower monthly payments. And borrowers most likely to prefer ARMs - low-income and minority homebuyers - have the least understanding of the potential cost, according to a new study. "Given the high probability of interest rate …

Study Points Out Alarming Rise in Use of Subprime Mortgages by Minorities

Racial minorities in Hampton Roads have sharply increased their use of more costly subprime mortgages when buying a home, a consumer advocacy organization said in a study of lending in more than 100 metropolitan areas. In addition, blacks and Latinos in the region and the nation are much more likely than whites to resort to …

New products keep home loans alive; Banks seek to retain borrowers with line-of-credit offerings

A home equity credit product recently launched by Minneapolis-based U.S. Bank is part of the latest effort by banks here and elsewhere to offer home-owners another way to tap into the value of their homes while rewarding them for keeping their equity loan with the same bank. "What we're trying to do is reward longtime …

Counting on spare change; In cutthroat D.C., banks push free coin machines

The Washington Times (Washington, DC). (July 26, 2005): Business News: pC10. Copyright: COPYRIGHT 2005 The Washington Times LLC Byline: Tom Ramstack, THE WASHINGTON TIMES Tim Ryan is just the kind of customer Washington-area banks are trying to attract with a host of free services. On a hot Friday afternoon last week, the 28-year-old bartender carried a bag full of …