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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (61865)5/24/2006 11:41:27 AM
From: russwinter  Read Replies (2) of 110194
 
There are $10 trillion in mortgages and roughly $2 trillion reset in 2006-2007. The biggest hidden bombshell of all, that few mention, are neg ams that convert to regular amortization (at the indexed rate) when loan balances hit 110% of the initial loan amount. As real rates are now 8% plus on these loans, people paying 3-4% "pretend" rates, will hit this in two years. This shows the timing of when these were taken out. 2004 vintage will start to get pretty ripe before long.
idorfman.com
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