I think there is a difference of a mortgage broker trying to get you into one of these loans and have the loan go through. It sounds like in your case since you have good credit it wouldn’t be a problem. It’s my understanding that the underwriting of these loans are tightening up but I keep hearing the same stories that these products are still available. Can anybody shed some light on how this looks at the street level verses they 2004-06. Are 2/28’s still abundant?
Also, with the constant bad news about these products I think many people (not all) have wised up to the consequences of getting into these mortgages.
