ARMs Reset Crisis Revisited

[4plexowner]

http://globaleconomicanalysis.blogspot.com/2009/05/arms-reset-crisis-revisited.html

The problem with Pay Option Arms is over 80% of POA mortgagees only make the minimum payment.

The second problem in regards to POAs is that a huge portion of these loans originated if the least affordable, biggest bubble areas, like Florida, California, Las Vegas, etc.

ticking time bomb of Pay Option Arms (which is still a huge problem, especially for California)

~

This is Mish’s latest take on the ARM reset issue – follow the link to see his comments on the Credit Suisse ARM reset chart

[Rt.66]

The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[Rt.66]

The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[Rt.66]

The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[Rt.66]

The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[Rt.66]

The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[(former)FormerSanDiegan]

Mish’s article is consistent with what I have been saying for the past year and a half.

Option ARMs are toast, but all the other traditional ARMS, alt-A’s, and IOs are not as big a deal because the rate recasts are based on currently low interest rates.

http://piggington.com/why_borrowers_may_not_benefit_from_rate_cut

http://piggington.com/is_it_alt_a_turn

[(former)FormerSanDiegan]

Mish’s article is consistent with what I have been saying for the past year and a half.

Option ARMs are toast, but all the other traditional ARMS, alt-A’s, and IOs are not as big a deal because the rate recasts are based on currently low interest rates.

http://piggington.com/why_borrowers_may_not_benefit_from_rate_cut

http://piggington.com/is_it_alt_a_turn

[(former)FormerSanDiegan]

Mish’s article is consistent with what I have been saying for the past year and a half.

Option ARMs are toast, but all the other traditional ARMS, alt-A’s, and IOs are not as big a deal because the rate recasts are based on currently low interest rates.

http://piggington.com/why_borrowers_may_not_benefit_from_rate_cut

http://piggington.com/is_it_alt_a_turn

[(former)FormerSanDiegan]

Mish’s article is consistent with what I have been saying for the past year and a half.

Option ARMs are toast, but all the other traditional ARMS, alt-A’s, and IOs are not as big a deal because the rate recasts are based on currently low interest rates.

http://piggington.com/why_borrowers_may_not_benefit_from_rate_cut

http://piggington.com/is_it_alt_a_turn

[(former)FormerSanDiegan]

Mish’s article is consistent with what I have been saying for the past year and a half.

Option ARMs are toast, but all the other traditional ARMS, alt-A’s, and IOs are not as big a deal because the rate recasts are based on currently low interest rates.

http://piggington.com/why_borrowers_may_not_benefit_from_rate_cut

http://piggington.com/is_it_alt_a_turn

[jpinpb]

[quote=Rt.66]The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[/quote]

LOL. I’m laughing so much I’m crying.

[jpinpb]

[quote=Rt.66]The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[/quote]

LOL. I’m laughing so much I’m crying.

[jpinpb]

[quote=Rt.66]The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[/quote]

LOL. I’m laughing so much I’m crying.

[jpinpb]

[quote=Rt.66]The Gov. just announced a solution called:

PFCHAPDASS (PF Changs Housing Assistance Program Destructive ARM Soup Special)

The new Temecula Changs has been doing so well they are going to chip in with a program refered to in-house as: AAARP (Appetizer ARM Assitance Rescue Program). A portion of every appetizer or bowl of soup purchased at the booming Temecula local will go to helping bridge the gap for people who planned on flipping at this juncture and are caught off gaurd at the prospect of actually paying the grossly inflated price they signed on for after the realtor, GW Bush and A. Greenspan assured them it was a good time to buy.

[/quote]

LOL. I’m laughing so much I’m crying.

[Author]

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