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  • June 7, 2008 at 8:39 AM #12975
    patb
    Participant

    look we all have seen that chart on where the neg ams are going to
    start resetting inapril 09, but i hate to ask an ugly question but what
    happens when these houses are underwater, do the resets come early?

    given probably 25% of all mortgages are underwater, shouldnt the banks
    be working to accelerate resets now?

    June 7, 2008 at 12:07 PM #218956
    jpinpb
    Participant

    That’s a really good question. It seems the banks aren’t keeping up w/NODs and foreclosures, so who knows if they’ll tackle accelerating the resets.

    June 7, 2008 at 12:07 PM #219118
    jpinpb
    Participant

    That’s a really good question. It seems the banks aren’t keeping up w/NODs and foreclosures, so who knows if they’ll tackle accelerating the resets.

    June 7, 2008 at 12:07 PM #219098
    jpinpb
    Participant

    That’s a really good question. It seems the banks aren’t keeping up w/NODs and foreclosures, so who knows if they’ll tackle accelerating the resets.

    June 7, 2008 at 12:07 PM #219067
    jpinpb
    Participant

    That’s a really good question. It seems the banks aren’t keeping up w/NODs and foreclosures, so who knows if they’ll tackle accelerating the resets.

    June 7, 2008 at 12:07 PM #219049
    jpinpb
    Participant

    That’s a really good question. It seems the banks aren’t keeping up w/NODs and foreclosures, so who knows if they’ll tackle accelerating the resets.

    June 7, 2008 at 1:43 PM #219088
    bearnanke
    Participant

    I’ve been told that the standard terms on option ARMS is that after the loan reaches 115% or 120% of the original loan amount that the loan “resets” and becomes essentially “fixed-rate” product, with payments to pay off the loan (ex: 120%) in the remainder of the 30 years.

    I have yet to see the chart/data showing when, assuming most paid the minimum, the 115-120% resets hit as it will be sooner for these people than what the loan terms state if people were not paying the min.

    (Bearnanke – since 2005, took me a while to be correct!)

    June 7, 2008 at 1:43 PM #219106
    bearnanke
    Participant

    I’ve been told that the standard terms on option ARMS is that after the loan reaches 115% or 120% of the original loan amount that the loan “resets” and becomes essentially “fixed-rate” product, with payments to pay off the loan (ex: 120%) in the remainder of the 30 years.

    I have yet to see the chart/data showing when, assuming most paid the minimum, the 115-120% resets hit as it will be sooner for these people than what the loan terms state if people were not paying the min.

    (Bearnanke – since 2005, took me a while to be correct!)

    June 7, 2008 at 1:43 PM #218996
    bearnanke
    Participant

    I’ve been told that the standard terms on option ARMS is that after the loan reaches 115% or 120% of the original loan amount that the loan “resets” and becomes essentially “fixed-rate” product, with payments to pay off the loan (ex: 120%) in the remainder of the 30 years.

    I have yet to see the chart/data showing when, assuming most paid the minimum, the 115-120% resets hit as it will be sooner for these people than what the loan terms state if people were not paying the min.

    (Bearnanke – since 2005, took me a while to be correct!)

    June 7, 2008 at 1:43 PM #219138
    bearnanke
    Participant

    I’ve been told that the standard terms on option ARMS is that after the loan reaches 115% or 120% of the original loan amount that the loan “resets” and becomes essentially “fixed-rate” product, with payments to pay off the loan (ex: 120%) in the remainder of the 30 years.

    I have yet to see the chart/data showing when, assuming most paid the minimum, the 115-120% resets hit as it will be sooner for these people than what the loan terms state if people were not paying the min.

    (Bearnanke – since 2005, took me a while to be correct!)

    June 7, 2008 at 1:43 PM #219159
    bearnanke
    Participant

    I’ve been told that the standard terms on option ARMS is that after the loan reaches 115% or 120% of the original loan amount that the loan “resets” and becomes essentially “fixed-rate” product, with payments to pay off the loan (ex: 120%) in the remainder of the 30 years.

    I have yet to see the chart/data showing when, assuming most paid the minimum, the 115-120% resets hit as it will be sooner for these people than what the loan terms state if people were not paying the min.

    (Bearnanke – since 2005, took me a while to be correct!)

    June 7, 2008 at 2:04 PM #219093
    jpinpb
    Participant

    (Bearnanke – since 2005, took me a while to be correct!)

    I’m in competition w/5 yr waiting. You’re not the only one. I was surprised the crazy incline in prices lasted as long as it did.

    June 7, 2008 at 2:04 PM #219001
    jpinpb
    Participant

    (Bearnanke – since 2005, took me a while to be correct!)

    I’m in competition w/5 yr waiting. You’re not the only one. I was surprised the crazy incline in prices lasted as long as it did.

    June 7, 2008 at 2:04 PM #219111
    jpinpb
    Participant

    (Bearnanke – since 2005, took me a while to be correct!)

    I’m in competition w/5 yr waiting. You’re not the only one. I was surprised the crazy incline in prices lasted as long as it did.

    June 7, 2008 at 2:04 PM #219143
    jpinpb
    Participant

    (Bearnanke – since 2005, took me a while to be correct!)

    I’m in competition w/5 yr waiting. You’re not the only one. I was surprised the crazy incline in prices lasted as long as it did.

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