Tuesday, August 01, 2006
How FB can you be?
A fellow real estate investor is in a bit of a pickle:
"...took out an adjustable-rate mortgage (ARM) with an initial 10.3% interest rate that will increase after two years... believed would be just over 7% but was actually 10.3%."
"Home appreciation could save him eventually, he says, if potential development of a year-round resort at Malans Peak and a generally strong market continue to boost Ogden housing prices."
"[H]e is marketing the home as for sale by owner."
And my favorite:
"in Ogden [Utah], there is little room left to build new housing near the mountains, where the home is located."
Happy Trails Mr. Klein.