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

To: RockyBalboa who wrote (89881)	9/19/2007 7:43:13 PM
From: benwood	Respond to of 306849

Did you mention that Ben's only helping his banker friends, not our ARM-holder friends. If all goes according to plan, the banker buddies will push their toxic waste into our pension plans and maybe a tad will go overseas, too. Just the heck outta the bank vault and into somebody else's lap.

To: RockyBalboa who wrote (89881)	9/20/2007 10:10:37 PM
From: posthumousone	Respond to of 306849

you know I just dont think people get the reset rates. I sure didnt. Now that i look closer its 2.25% ON TOP of whatever the LIBOR rate is. I am sure mine is not much different than others. Does anyone know if 2.25% reset rate is common? At the time I thought it was 2.25% reset off my initial 4% rate!! And I thought the max they could charge me was 9%. No prepayment so I was planning on just refinancing when i got to it. Soooo I would have been paying at least 7.5% when at the most i thought i would have been paying 6.25% - lol You know I would have had no one to blame but myself for not understanding. Although my agent didnt understand it either. And people dont think this is going to end bad