∙ Payment spikes might gore those with ARMs [SFGate]
“We’ve had consumers tell us they didn’t know that after making 60 minimum payments on a (payment-option loan), they would owe more than they did when the loan was brand-new. They should certainly understand the basic bargain: The price of a low payment now is a much higher payment later.”
∙ High home prices hamper fed recruiters [SFGate]
“A steady climb in housing and other living costs in San Francisco and Los Angeles is making it difficult for federal agencies to recruit and retain employees in those areas, according to a report prepared by federal executives in California.” “We simply cannot find and keep enough good people. The foundation is crumbling,” the report warns. [Editor’s Note: At least the foundation under the brand new 600,000 sq.ft. San Francisco Federal Building is sound…]