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

To: saveslivesbyday who wrote (298947)12/19/2010 3:35:01 PM
From: Drygulch DanRead Replies (1) | Respond to of 306849
 
I see but the 5 year Option ARMs should have been taken out by slightly smarter people than the prior wave. Perhaps the bulk of these folks see the problem of these notes and have taken precautions to get out of them before the bell rings ? I know my daughter and her husband did but theirs was a 10 year ARM from earlier in the decade.



To: saveslivesbyday who wrote (298947)12/19/2010 6:04:28 PM
From: CalculatedRiskRead Replies (3) | Respond to of 306849
 
Many of those borrowers in the "2nd wave" have already defaults or have had their loans modified. There is more bad news coming - but not like that graph suggests



To: saveslivesbyday who wrote (298947)12/19/2010 6:29:05 PM
From: patron_anejo_por_favorRead Replies (1) | Respond to of 306849
 
I'll guess that a fair number of the option ARM's have already defaulted and/or foreclosed, in part due to rising unemployment. Others may have refinanced. That 2011 peak may be less of a factor than previously believed, but we'll find out soon in any event.


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