“option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011”
[img_assist|nid=12621|title=Option ARM resets a CA issue|desc=|link=node|align=left|width=400|height=350]
let’s see, Option ARM teaser period ends over the next 3 years, fully amortized mortgage is likely to be more than the cost of renting equivalent housing, and 89% of them are underwater – am I missing anything?
come on now, somebody jump in and tell us how Option ARM resets isn’t going to be an issue (it always makes me laugh …)
