I suspect the housing bailout will help..but only the bastards who did get the option-arm loans. I can’t fault them for working “the system” but they fuct everyone else.
In the example above the NEW monthly FHA 30-year fix loan of $2,210.26 is only 200 bucks higher than the old option-arm payment of $2,053. It’s a no brainer. These borrows will do the switch in droves.