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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Lee who wrote (68028)8/25/2007 7:59:46 PM
From: Dan3  Read Replies (1) of 116555
 
Re: We have ramped from $22B per month in ARM resets during January 2007 to $43B in resets in the month of July 2007.

It's generally 6 months before the homeowners give up trying to make the new payments, then another 6 months before the (bank? Bond Servicer?) cleans up the paperwork and dumps the house onto the market.

We're just now seeing the beginning of the effects from the January resets. This won't hit home until 2009.
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