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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (4286)	8/10/2002 10:30:48 AM
From: surfbaron	Read Replies (2) \| Respond to of 89467

Dr.J: I have a feeling we do the same ole for another stretch. I checked with my mortgage broker. I can refi what I thought was an unbeatable rate 7% fixed. Or go short (5yrFixed, then 25 Adj)) and take out cash. More likely will go with 15yr and pay down quicker. But my point is the continued availability to live like pig now. What happens when collectively the boomers realize thev've refi-ed the hell out of any chance at equity and still hold 30 yr fixed. It might not manifest any time soon, but sometime in next 10-20 years a massive selling will occur as they rush to exit out of upside-down.