2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.22

-0.2%

Nov 21 4:00 PM EST

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To: Snowshoe who wrote (23057)	9/26/2007 8:40:53 AM
From: Ilaine	Read Replies (1) of 217927

I had read that the peak of resets would be October. Interesting that it's September. At any rate, the pain comes down the road, after the homeowners try to salvage the deal by throwing every penny into the black hole that is their mortgage. Yesterday I heard a lawyer advising a client to refinance his house since he still had equity, and use that to pay the mortgage. Unbelievable! But that's what people are doing. They're hoping the housing market will come back high enough that they are no longer at negative equity and can refinance at a lower rate. It's not like buying shares of stock that lose value. When your house loses value, but your mortgage goes up, you're paying maybe $3000 a month for a place to live, while down the street another family is renting the same house for $1700. Crazy. Or maybe I just don't get it.

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