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cr
ParticipantI don’t think we’re any more than half way done timewise.
The job market alone is enough to keep things from turning around. Then there are the “Prime” low/no-doc option ARMs.
I think we could still see 20-30% declines from where prices are today.
ParticipantI don’t think we’re any more than half way done timewise.
The job market alone is enough to keep things from turning around. Then there are the “Prime” low/no-doc option ARMs.
I think we could still see 20-30% declines from where prices are today.
ParticipantI don’t think we’re any more than half way done timewise.
The job market alone is enough to keep things from turning around. Then there are the “Prime” low/no-doc option ARMs.
I think we could still see 20-30% declines from where prices are today.
ParticipantI don’t think we’re any more than half way done timewise.
The job market alone is enough to keep things from turning around. Then there are the “Prime” low/no-doc option ARMs.
I think we could still see 20-30% declines from where prices are today.
December 29, 2008 at 10:23 AM in reply to: Effect of record low interest rates on Alt-A resets? #320925ParticipantIt depends on the loan. Lower rates will make little or no difference for someone who elected to pay only the interest or less (Negative Amortization) once they have to start paying down principal.
Going from an I/O teaser rate of 1% to even 5% is going to hurt these people.
The only thing that would help is if rates are in fact lower than 5 years ago and they refi into the same loan.
Anyone forced to start paying down principal will be facing a higher payment.
December 29, 2008 at 10:23 AM in reply to: Effect of record low interest rates on Alt-A resets? #321273ParticipantIt depends on the loan. Lower rates will make little or no difference for someone who elected to pay only the interest or less (Negative Amortization) once they have to start paying down principal.
Going from an I/O teaser rate of 1% to even 5% is going to hurt these people.
The only thing that would help is if rates are in fact lower than 5 years ago and they refi into the same loan.
Anyone forced to start paying down principal will be facing a higher payment.
December 29, 2008 at 10:23 AM in reply to: Effect of record low interest rates on Alt-A resets? #321328ParticipantIt depends on the loan. Lower rates will make little or no difference for someone who elected to pay only the interest or less (Negative Amortization) once they have to start paying down principal.
Going from an I/O teaser rate of 1% to even 5% is going to hurt these people.
The only thing that would help is if rates are in fact lower than 5 years ago and they refi into the same loan.
Anyone forced to start paying down principal will be facing a higher payment.
December 29, 2008 at 10:23 AM in reply to: Effect of record low interest rates on Alt-A resets? #321345ParticipantIt depends on the loan. Lower rates will make little or no difference for someone who elected to pay only the interest or less (Negative Amortization) once they have to start paying down principal.
Going from an I/O teaser rate of 1% to even 5% is going to hurt these people.
The only thing that would help is if rates are in fact lower than 5 years ago and they refi into the same loan.
Anyone forced to start paying down principal will be facing a higher payment.
December 29, 2008 at 10:23 AM in reply to: Effect of record low interest rates on Alt-A resets? #321425ParticipantIt depends on the loan. Lower rates will make little or no difference for someone who elected to pay only the interest or less (Negative Amortization) once they have to start paying down principal.
Going from an I/O teaser rate of 1% to even 5% is going to hurt these people.
The only thing that would help is if rates are in fact lower than 5 years ago and they refi into the same loan.
Anyone forced to start paying down principal will be facing a higher payment.
December 29, 2008 at 10:17 AM in reply to: Some math on how we’re going to get out of this mess #320920Participant[quote=sdrealtor]Seriously, how does anyone know what Pay Option Arm holders are paying? Is there any real statistics or accurate data out there.[/quote]
Dr Housing Bubble had an article covering some of this, but I don’t think he covers the % of people making the minimum.
Then again, you have to ask yourself, in most cases why would someone take an IO ARM in the first place?
December 29, 2008 at 10:17 AM in reply to: Some math on how we’re going to get out of this mess #321268Participant[quote=sdrealtor]Seriously, how does anyone know what Pay Option Arm holders are paying? Is there any real statistics or accurate data out there.[/quote]
Dr Housing Bubble had an article covering some of this, but I don’t think he covers the % of people making the minimum.
Then again, you have to ask yourself, in most cases why would someone take an IO ARM in the first place?
December 29, 2008 at 10:17 AM in reply to: Some math on how we’re going to get out of this mess #321323Participant[quote=sdrealtor]Seriously, how does anyone know what Pay Option Arm holders are paying? Is there any real statistics or accurate data out there.[/quote]
Dr Housing Bubble had an article covering some of this, but I don’t think he covers the % of people making the minimum.
Then again, you have to ask yourself, in most cases why would someone take an IO ARM in the first place?
December 29, 2008 at 10:17 AM in reply to: Some math on how we’re going to get out of this mess #321340Participant[quote=sdrealtor]Seriously, how does anyone know what Pay Option Arm holders are paying? Is there any real statistics or accurate data out there.[/quote]
Dr Housing Bubble had an article covering some of this, but I don’t think he covers the % of people making the minimum.
Then again, you have to ask yourself, in most cases why would someone take an IO ARM in the first place?
December 29, 2008 at 10:17 AM in reply to: Some math on how we’re going to get out of this mess #321420Participant[quote=sdrealtor]Seriously, how does anyone know what Pay Option Arm holders are paying? Is there any real statistics or accurate data out there.[/quote]
Dr Housing Bubble had an article covering some of this, but I don’t think he covers the % of people making the minimum.
Then again, you have to ask yourself, in most cases why would someone take an IO ARM in the first place?
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