The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Skeeter Bug who wrote (233836)	12/20/2009 11:17:41 PM
From: The Reaper	Read Replies (1) of 306849

It's not just the interest rate that's the problem. Many of these homeowner's haven't been even making payments to cover the teaser interest on their loans (Pick-a-Payment.) Mortgage balance going up and then the teaser rates going away and these loans being recast to market interest rates are going to make payments go significantly higher. Interest rates in general have gone down since the origination of these loans but these loans have been a world of their own with the teasers. That parallel universe is about to end.

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