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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (37553)8/2/2005 1:51:05 PM
From: Wyätt Gwyön  Read Replies (2) of 110194
 
please confirm if my understanding of the option ARM is correct: if you borrow $1 million and select 1% "option" payment, you will only have to pay 1%, or just 10K the first year (increasing 7.5% the next). you would then pay $10,750 the second year, then 11.8K or so the next year. after that, you would be at over 115% of original loan, so you would have to pay down principal.

but in the meantime, you could "own" and live in a million-dollar house for less than a grand a month.
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