Relevant:
- Banks Giving 1-2% Teaser Rates as Modifications
- Countrywide (promises to) to aid more borrowers
- Fannie’s New Plan Helps Keep Borrowers Underwater
- Countrywide's New Scare - 'Option ARM' Delinquencies Bleed Into Profitable Prime Mortgages
- Option ARMs for Dummies: Why 4.5 Percent Mortgages Rates will do Absolutely Nothing for these Toxic Assets.
2008-11-12 — ml-implode.com
"The great new and improved big plan to save the housing sector involves giving 40-year terms, adding balances to the end of the loan and offering teaser rates. IT WAS THESE EXACT PRACTICES THAT GOT US HERE IN THE FIRST PLACE! They were called ‘interest only’ and ‘Pay Option ARMs’."
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Comments:
MortgageMan85 at 06:50 2008-11-14 said:
Please chime in on the thread, love to hear your comments. Permalinkadd a comment | go to forum thread
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