If you add on the TI and HOA, you could be at 65 – 70% DTI? After the loan recasts, you could be at 100% or 110% DTI? What a ;bunch of schmucks to give a loan like that!
BTW,the most surprising question of omission at the Senate Hearings was “Who is holding the MBS, and what is the risk to the financial system when these loans recast?”
I am certain that anyone with a 60% – 70% DTI loan will default within a few months. And I refuse to qualify that statement with “in my opinion”.
