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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: t4texas who wrote (13757)	5/12/2004 10:59:40 PM
From: TH	Read Replies (2) of 110194

t4texas, Read the fine print on this "popular" loan. rockfinancial.com Click on the upper left "3 year Smart ARM". "Rate is variable and subject to change. Interest-only for 3 years. After the initial 3 year, fixed-rate period the rate will adjust every 6 months. The interest-only payment on a 30-year $300,000 3-year Adjustable Rate Loan at 2.75% and 80% LTV would be $687.51 with 3.25 points due at closing. After the initial fixed-rate period, the principal and interest payment is $1432.59. The Annual Percentage Rate is 3.612%. Rates could change daily. Actual payments will vary based on individual client situation and current rates." I think there will be many homes available cheap when that three years is up, without any increase in rates. Good Trading TH

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