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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: sea_biscuit who wrote (89425)12/6/2007 12:43:12 PM
From: anachronist  Read Replies (1) | Respond to of 110194
 
whereas his reckless borrower friend who took a 2/28 negative amortization ARM with a teaser rate of 1% can continue to be irresponsible and if he gets into more trouble, the government will be there to bail him out again

Not to nitpick, but borrowers must have 3% equity and be current on payments to take advantage of the current bailou... err aid plan. So no love for Neg Am or the 16% of subprime borrowers already behind on their payments.