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

To: patron_anejo_por_favor who wrote (93905)	11/6/2007 9:12:10 AM
From: Les H	Read Replies (1) \| Respond to of 306849

Do the charts take into account the rolling adjustments? I thought they only tracked the initial adjustment.

To: patron_anejo_por_favor who wrote (93905)	11/6/2007 9:16:28 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

I partially agree with your statement. Falling home values and the credit crunch have not affected those holding ARM's with the resources to refinance BUT they wouldn't have been the problem anyhow. They were just saving money with the lower rate and were never default candidates. It's the stupid ones who went with an ARM because they wanted to maximize their home purchase that are the problem. Those clowns can't refinance in this environment so from the standpoint of foreclosure candidates I still claim the damage has peaked. The banks would also be crazy to help most of those people refinance as it would clearly be a case of throwing money down the toilet. Most already have negative equity and property values will continue to fall for some time. Banks would be giving away more money now (mortgage assistance) to get even less money later (lower home value). The borderline cases might get some assistance. I do agree that it is not over by any stretch of the imagination, and the foreclosure fallout hasn't peaked.