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Eugene
Participant“What do you mean sub-2% ??
There were no 2% SP loans….
The 1%-2% PAY RATES were 7%++ loans that were neg am, and are not covered by Bush/Paulson”I’m not talking about subprime loans.
If you look at that article, on page 31 it says that 1/3 of all outstanding ARMs in San Diego County (prime and subprime) are “red rate group”, with initial interest rate below 4.0%. The question is, are all these loans neg-am, or was there anything else going on.
Participant“What if the property won’t appraise for the amount that they are trying to re-fi? ”
The article uses some sort of automatic appraisal algorithm to calculate equity. It’s not very accurate (how is it possible to buy in 2006 and have -15% or less equity by the end of 2006?) But for the kind of approximate calculations they are doing, it’s probably okay.
Participant“What if the property won’t appraise for the amount that they are trying to re-fi? ”
The article uses some sort of automatic appraisal algorithm to calculate equity. It’s not very accurate (how is it possible to buy in 2006 and have -15% or less equity by the end of 2006?) But for the kind of approximate calculations they are doing, it’s probably okay.
Participant“What if the property won’t appraise for the amount that they are trying to re-fi? ”
The article uses some sort of automatic appraisal algorithm to calculate equity. It’s not very accurate (how is it possible to buy in 2006 and have -15% or less equity by the end of 2006?) But for the kind of approximate calculations they are doing, it’s probably okay.
Participant“What if the property won’t appraise for the amount that they are trying to re-fi? ”
The article uses some sort of automatic appraisal algorithm to calculate equity. It’s not very accurate (how is it possible to buy in 2006 and have -15% or less equity by the end of 2006?) But for the kind of approximate calculations they are doing, it’s probably okay.
Participant“What if the property won’t appraise for the amount that they are trying to re-fi? ”
The article uses some sort of automatic appraisal algorithm to calculate equity. It’s not very accurate (how is it possible to buy in 2006 and have -15% or less equity by the end of 2006?) But for the kind of approximate calculations they are doing, it’s probably okay.
ParticipantA question to knowledgeable people.
What does a typical 2006 sub-2% “teaser rate” ARM look like? What’s the reset trajectory?
Is it true what that guy says, that those loans start to reset quickly (within 6-12 months)? If so, how long does a full reset take?
How many of those are negative-amortization loans that are not due to reset for 5 years?
ParticipantA question to knowledgeable people.
What does a typical 2006 sub-2% “teaser rate” ARM look like? What’s the reset trajectory?
Is it true what that guy says, that those loans start to reset quickly (within 6-12 months)? If so, how long does a full reset take?
How many of those are negative-amortization loans that are not due to reset for 5 years?
ParticipantA question to knowledgeable people.
What does a typical 2006 sub-2% “teaser rate” ARM look like? What’s the reset trajectory?
Is it true what that guy says, that those loans start to reset quickly (within 6-12 months)? If so, how long does a full reset take?
How many of those are negative-amortization loans that are not due to reset for 5 years?
ParticipantA question to knowledgeable people.
What does a typical 2006 sub-2% “teaser rate” ARM look like? What’s the reset trajectory?
Is it true what that guy says, that those loans start to reset quickly (within 6-12 months)? If so, how long does a full reset take?
How many of those are negative-amortization loans that are not due to reset for 5 years?
ParticipantA question to knowledgeable people.
What does a typical 2006 sub-2% “teaser rate” ARM look like? What’s the reset trajectory?
Is it true what that guy says, that those loans start to reset quickly (within 6-12 months)? If so, how long does a full reset take?
How many of those are negative-amortization loans that are not due to reset for 5 years?
ParticipantAt 539k this listing puts a lot of houses in the neighborhood underwater.
02-06-2004 11831 Westview Pkwy $570,000
05-17-2004 11825 Westview Pkwy $660,000
09-01-2004 11811 Westview Pkwy $645,000
09-23-2004 11829 Westview Pkwy $645,000
12-20-2004 11911 Westview Pkwy $635,000
04-01-2005 11897 Westview Pkwy $650,000
05-19-2005 11881 Westview Pkwy $680,000
07-29-2005 11857 Westview Pkwy $635,000
07-29-2005 11873 Westview Pkwy $645,000
08-12-2005 11803 Westview Pkwy $710,000
02-14-2005 11917 Westview Pkwy $635,000
03-09-2006 11915 Westview Pkwy $655,000
04-24-2006 11883 Westview Pkwy $660,000
01-25-2007 11869 Westview Pkwy $585,000
02-20-2007 11817 Westview Pkwy $615,000
05-29-2007 11899 Westview Pkwy $593,000
08-14-2007 11841 Westview Pkwy $580,000(Out of ~80 houses on this driveway)
ParticipantAt 539k this listing puts a lot of houses in the neighborhood underwater.
02-06-2004 11831 Westview Pkwy $570,000
05-17-2004 11825 Westview Pkwy $660,000
09-01-2004 11811 Westview Pkwy $645,000
09-23-2004 11829 Westview Pkwy $645,000
12-20-2004 11911 Westview Pkwy $635,000
04-01-2005 11897 Westview Pkwy $650,000
05-19-2005 11881 Westview Pkwy $680,000
07-29-2005 11857 Westview Pkwy $635,000
07-29-2005 11873 Westview Pkwy $645,000
08-12-2005 11803 Westview Pkwy $710,000
02-14-2005 11917 Westview Pkwy $635,000
03-09-2006 11915 Westview Pkwy $655,000
04-24-2006 11883 Westview Pkwy $660,000
01-25-2007 11869 Westview Pkwy $585,000
02-20-2007 11817 Westview Pkwy $615,000
05-29-2007 11899 Westview Pkwy $593,000
08-14-2007 11841 Westview Pkwy $580,000(Out of ~80 houses on this driveway)
ParticipantAt 539k this listing puts a lot of houses in the neighborhood underwater.
02-06-2004 11831 Westview Pkwy $570,000
05-17-2004 11825 Westview Pkwy $660,000
09-01-2004 11811 Westview Pkwy $645,000
09-23-2004 11829 Westview Pkwy $645,000
12-20-2004 11911 Westview Pkwy $635,000
04-01-2005 11897 Westview Pkwy $650,000
05-19-2005 11881 Westview Pkwy $680,000
07-29-2005 11857 Westview Pkwy $635,000
07-29-2005 11873 Westview Pkwy $645,000
08-12-2005 11803 Westview Pkwy $710,000
02-14-2005 11917 Westview Pkwy $635,000
03-09-2006 11915 Westview Pkwy $655,000
04-24-2006 11883 Westview Pkwy $660,000
01-25-2007 11869 Westview Pkwy $585,000
02-20-2007 11817 Westview Pkwy $615,000
05-29-2007 11899 Westview Pkwy $593,000
08-14-2007 11841 Westview Pkwy $580,000(Out of ~80 houses on this driveway)
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