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

To: DebtBomb who wrote (93982)11/6/2007 1:23:04 PM
From: 10K a dayRespond to of 306849
 
The option arms allow you the option of cutting off your arm or your leg. What a mess.



To: DebtBomb who wrote (93982)11/6/2007 1:36:03 PM
From: CalculatedRiskRespond to of 306849
 
These OAs were used heavily in nicer communities in the bubble areas. And CFC said that something like 87% of the Option Arm users were choosing the minimum payment - the Negative Amortization option (I can't find the exact percentage, so that may be too high)

These people are going to be so far underwater - it will seem like the Marianas Trench.


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