Relevant:
- Option ARMs for Dummies: Why 4.5 Percent Mortgages Rates will do Absolutely Nothing for these Toxic Assets.
- Wells Fargo Cuts as Much as 30 Percent in Principal From Loans
- Countrywide sees pay-option loan risk
- Countrywide's New Scare - 'Option ARM' Delinquencies Bleed Into Profitable Prime Mortgages
- Cruel Jokes, and No One Is Laughing
2011-07-04 — reuters.com
``The paper said the banks are targeting holders of pay option adjustable-rate mortgages, a type of loan where borrowers have the option of skipping some principal and interest payments and having the amount added back onto the loan.''
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