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


To: The Reaper who wrote (233841)12/21/2009 3:04:27 AM
From: Skeeter BugRespond to of 306849
 
>>Wachovia was huge with the Pick-a-Pay loans with teaser rates for the first five years. Those are the loans that Wells Fargo has now. They have a 5-year recast where they convert to a conventional 25-yr. amortized loan.<<

oh my. i didn't know that. that is gonna hurt as lots of folks simply walk away and the banks foot the bills as they try and hide the losses in the biggest example of securities fraud in history.