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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (63588)10/9/2006 4:50:56 PM
From: CalculatedRiskRead Replies (1) | Respond to of 306849
 
Tick. Tick. Beware the mortgage time-bomb
That ridiculously low-rate ARM seemed like such a good idea at the time. But now, payments will be coming due in a big, big way.
money.cnn.com



To: Moominoid who wrote (63588)10/10/2006 12:31:28 AM
From: bentwayRead Replies (1) | Respond to of 306849
 
As near as I can figure, if you don't need or want the money, they fall all over themselves to lend it to you. If you need it and/or want it, they don't want to deal with you.

The first mortgage is the hardest, after that, it's practically automatic if you qualify.



To: Moominoid who wrote (63588)10/10/2006 8:12:50 AM
From: damainmanRead Replies (1) | Respond to of 306849
 
Those balance transfer things are great- we get a ton of those at zero percent and just keep moving the balance around-never paying a penny in interest. The money that would've gone to pay off balances goes to cd's yielding 5 percent and change. We keep a mini carry trade goin' on as long as those fools keep offering us zero percent. I bet if enough us us do that we could bankrupt a few places : )


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