Welcome to Option ARMageddon

By Reuters Staff
December 4, 2007

Hey folks,

So it’s pretty much official: the housing bubble has burst, causing hardship for anyone involved in real estate. From homeowners to real estate agents to mortgage lenders to construction workers, millions will be hurt by the bust in real estate.

The purpose of this site is to give YOU (yes, you) a chance to tell your real estate disaster story. How bad is the real estate market where you are? Did your lender put you in the wrong loan and now you can’t make the payments? Are investors who took on a dozen properties with borrowed money now walking away from all their debt? Send your story to optionarmageddon@gmail.com and we’ll publish it.

Why “optionARMageddon?” Well, while living in Florida the past 5 years, I got a good look at one of the frothiest real estate markets in the nation. The Florida bubble was blown up by, among other things, lots of “creative” financing vehicles…..like option ARMs. And it’s looking like those ARMs may be bringing about the end of days in real estate!

So send us your stories, your photos, your YouTube links, whatever and we’ll publish them!

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •