HUuh?? That article is 27 months old. Thats not good enough for me. Up to 80%? That could be 5%, 10%, 25%,46.7%, 79.9% or anything else for that matter. Its just a guess and very poor outdated one at that.
In that article they addressed Option ARM’s written in 2004 and 2005 coming to roost (in September 2006). Those loans would have recast and gone back to the banks in many cases already. What about the loans written after that article came out. Were they the same, were they different. I dont know? That article really didnt answer anything for me.
I dont know what the numbers are but would sure like to see something more definitive.
