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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Captain Jack who wrote (36169)7/25/2005 3:55:50 AM
From: mishedloRead Replies (1) of 306849
 
Why any bank would give an interest only mortgage is a question.

I am in an interest only mortgage.
Then again I have 75% down payment.
Is that enough?
Besides I make payments as if I was in a 15 year fixed.

But more to the point for the average lender,
Because there is no PERCEIVED risk.
They sell all the risky loans to Fannie Mae.

In fact, I believe they (banks) want Fannie Mae to go under.
So they feed all the shit to Fannie that they can.

Now, why does Fannie Mae take all those loans?
I have no freaking idea.

Mish
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