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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: loantech who wrote (37770)8/4/2005 1:35:45 PM
From: John Vosilla  Read Replies (1) of 110194
 
Well these guys are pumping it day and night on these new radio shows in Florida. Apparently you are fixed for a year at least and then payments can only go up a maximum 7.5% a year. Of course we know your balance grows which many borrowers don't quite understand (or care about as long as high appreciation continues) and the balance caps at a maximum 115% or so from what I hear. So this should cap low payments for a maximum three years (assuming the balance grows 4-5% a year) unless they can get bailed out by appreciation and doing the refi deal again.
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