Relevant:
- Option ARMs for Dummies: Why 4.5 Percent Mortgages Rates will do Absolutely Nothing for these Toxic Assets.
- Option ARMs Don’t Measure Up in HAMP
- The Crack Up Boom, Part III - Balance Sheet Destruction and Repair!
- Countrywide's New Scare - 'Option ARM' Delinquencies Bleed Into Profitable Prime Mortgages
- The rate of option ARM delinquencies is already spiking
2008-02-07 — bloomberg.com
'Joe Ripplinger took out a $184,000 mortgage in 2006 and makes his payments every month. Now he owes $192,000. The 66-year-old Minneapolis house painter has a payment- option adjustable-rate mortgage. '
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