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

To: GST who wrote (61839)	5/24/2006 9:35:27 AM
From: Perspective	Read Replies (1) \| Respond to of 110194

I know a couple who bought three years ago on an ARM and are about to get nailed as it begins adjusting. Thought they could refi but kept putting it off due to the prepay penalty, thinking that rates would stay low. BC

To: GST who wrote (61839)	5/24/2006 10:28:55 AM
From: yard_man	Read Replies (2) \| Respond to of 110194

I think you are the one living in a cave -- there are a ton of folks in ARMs, no interest loans -- folks really juggling to make payments on houses bought more than 3 or 4 years ago that they really couldn't afford then, and will really be in a bind as higher cost of living bites at the same time housing prices fall.