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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (8247)	9/12/2007 11:02:01 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Kirk, really great to "see" you. I still remember you going for those morning runs with your poetry worthy wife. -g- these are interesting times and it may well be that we are experiencing the downleg of a financial and economic cycle that spans a couple of decades. But I'm always excited to see an upturn in the credit cycle as it gives us new blossoms of growth. who knows maybe I'll recruit you into this naiscent market of providing FHA secured loans to all of these folks with subprime, Alt A, 2/28 and teaser intro mortgage rates that will really be forced to refinance and were planning on doing it when they assumed these mortgage obligations the past 1 to 3 years and now realize they have no place to refinance to and THEY are seeing a 400 basis point upward explosion in their adjustable rate obligation. That is what is at the center of much of this credit market meltdown..... luckily the FHA is providing an escape value. (IF they did not it would be very very disruptive.) John