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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (29251)3/23/2005 11:55:11 PM
From: John Vosilla  Read Replies (1) of 110194
 
Even if the short end is going up fast it still doesn't stop those 1.25% option ARMS programs from continuing to allow marginal buyers in bubble markets to get in and qualify with a very low start payment rate. As an example you can still keep your payment under $1k and borrow $350k. Of course your balance grows by the spread and if properties go down only a little in the next few years the borrower is already so far upside down most likely he walks away.
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