Does Anyone feel like Bailing

classicman · 01-04-2010, 09:18 PM

It seems that yes the subprime mortgages are the biggest issue, but even with the other types of mortgages, the ARM's default at more than double the level of the others.

Also, the credit score of the borrower is of immense significance.

01-04-2010, 11:11 PM

Quote:

Originally Posted by classicman

It seems that yes the subprime mortgages are the biggest issue, but even with the other types of mortgages, the ARM's default at more than double the level of the others.

Most sub prime loans, particularly those after 2000, when sub primes soared with the housing boom from well below 10 percent of mortgages in the 1990s to nearly 20 percent by 2007, were adjustable rate....and were un(under)regulated.

01-04-2010, 09:18 PM	#1
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	It seems that yes the subprime mortgages are the biggest issue, but even with the other types of mortgages, the ARM's default at more than double the level of the others. Also, the credit score of the borrower is of immense significance. Attached Images __________________ "like strapping a pillow on a bull in a china shop" Bullitt

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