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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (38024)	8/7/2005 11:28:48 AM
From: loantech	Read Replies (2) \| Respond to of 110194

Hi Darfott, Here is a post I made on ARM rates of 3 and 5 year(fixed) durations last Thursday. At the 36 or 60 th months they convert to ARMS. Message 21572955 ARM's of 1 year duration are no better. These are non neg am rates. The rates that are for 1 or 2 or 3 % have payments based on those figures. They may index every month and have a 7% annual payment cap so the unpaid portion goes neg and is tacked unto the balance until which time the ARM becomes fully indexed for the set rate at the remainig term of the loan. So after 3-4 years your original balance may be 125% geater and the payment may be in the 4-8% range depending on the margin and the future index and amortized over the remaining term. Whoa.......... <g>