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

To: loantech who wrote (62314)	5/31/2006 11:18:00 AM
From: kacy_in_LA	Read Replies (1) \| Respond to of 110194

okay, I agree ... its insane ... I wouldn't borrow more than $200k on the data I gave you.

To: loantech who wrote (62314)	6/2/2006 12:12:52 AM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

"I have a friend of a friend who just bought a home in San Diego (about 6 months ago). Paid $850k on a 100% IO loan with a 1% teaser loan. Paymnt is only about $700 a month. In about 6 more months the payment will go to about $5k a month. The home will also be worth about $800k. The friend of the freind is a manager at Taco Bell in Scripps Ranch. What is the chance of him making it past 3 months when the teaser is over? My above example is extreme, but don't we all know someone who is in this boat?" websitetoolbox.com Tom, thought you'd enjoy the dialogue on this thread in your neck of the woods..