It’s highly probable that many option-ARMS or neg-am loans scheduled to reset from months 30 through 60 per the Credit Suisse “ARM Reset Schedule” are already getting recalculated NOW and are seeing early resets way ahead than what were FBs’ assumptions of later schedules. Certainly I keep reading about many FB’s who are caught unaware, getting surprised when they see their mortgage bills increasing almost every month! This sounds like early resets have been triggered already. Thus, the 50%-off-from-peak prediction will come sooner than 2012.
