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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?


To: Orcastraiter who wrote (82762)11/21/2006 6:17:25 PM
From: Kevin Rose  Respond to of 173976
 
Yes, especially the hot markets. I know that locally, MANY people were getting into these terrible loans, the reverse amortization stuff with variable rates. You can easily lose a highly leveraged house quick with such loans in this market.

Worse than that, a lot of the so-called economic upswing of the past few years is due to low interest and the housing bubble. You'd think we'd have learned from the tech bubble...