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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (54209)2/18/2006 4:52:00 PM
From: orkrious  Read Replies (2) of 110194
 

Why can't they be refied into Option ARMs? From accumulated equity mortgage brokers will give them a cash out gift in addition to taking $10K in fees.

I think most people (at least those is desperate straights) have already extracted as much equity as they can. Remember, house prices are now longer going up (in some cases they are going down) and appraisers are tougher.

EDIT

How many months of inventory in Detroit?

I don't know the number, but I'd guess 12. Detroit is what the nation is going to become.
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