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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: CalculatedRisk who wrote (93931)11/6/2007 10:59:36 AM
From: MulhollandDriveRead Replies (1) of 306849
 
Although many of the homeowners in the 2009 to 2011 reset periods will refinance (if they can), this shows that the problems in housing will linger for several years. What is especially concerning is all these Option ARM resets in 2010 and 2011. Most of these homeowners are selecting the minimum payments (negatively amortizing) and many homeowners will be upside down when the ARM resets.

CR, is it realistic to think that homeowners will refinance if they are upside down on the loan? (i suppose it might depend on just how upside down they are)

shouldn't we be expecting another (continuing) wave of defaults?
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