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El Pinko (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 03:50 AM Original message |
Bloomberg: Forget about Subprime, Option ARMS are the "Neutron Bomb" of Bad Loans to come |
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DCKit (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 04:16 AM Response to Original message |
1. Don't be surprised if someone hits the "alert" button and ... |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 04:21 AM Response to Reply #1 |
2. The graph is quantifying the dollar value of the resets, not the actual loan balances. |
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DCKit (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 04:42 AM Response to Reply #2 |
3. I got that. That's why I'm sitting here shaking. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 05:35 AM Response to Reply #3 |
5. Sorry for any distress. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 10:24 AM Response to Reply #5 |
10. kick |
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dantyrant (278 posts) Send PM | Profile | Ignore | Fri Feb-08-08 04:49 AM Response to Reply #2 |
4. Looking at that graph... |
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soothsayer (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 06:14 AM Response to Reply #4 |
6. Yeah, but I think the headline means 'new wave of bad news coming' |
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JCMach1 (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 06:15 AM Response to Original message |
7. The guys should be refinanced now... time to outlaw these exotic |
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mvccd1000 (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 07:11 AM Response to Original message |
8. My ARM will go down 1.75% on March 1st. |
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Lorien (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 11:19 AM Response to Reply #8 |
16. That's what I have too. It only went back UP to where it stated over 12 years |
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Chimichurri (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 08:10 AM Response to Original message |
9. Hat tip to you for an excellent post. Information is power. |
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DemReadingDU (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 10:52 AM Response to Original message |
11. morning kick |
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PRETZEL (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 11:02 AM Response to Original message |
12. There's alot of similarities with this and "reverse mortgages" |
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jpak (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 11:03 AM Response to Original message |
13. Alan Greenspan should get a Nobel Prize in Physics for this |
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Mountainman (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 11:08 AM Response to Original message |
14. People will walk away before they pay the high amounts. The value of their property is declining. |
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CK_John (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 11:11 AM Response to Original message |
15. Your problem is you still believe money is real, it's it is a concept. The concept can and |
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UpInArms (1000+ posts) Send PM | Profile | Ignore | Fri Feb-08-08 06:39 PM Response to Original message |
17. your post reminded me of an illustration by a friend |
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bluestdogest (51 posts) Send PM | Profile | Ignore | Fri Feb-08-08 06:43 PM Response to Original message |
18. Yeah, but interest rates are down, so this catastrophe can be avoided if people are smart. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 10:20 AM Response to Reply #18 |
19. Exactly what smart thing can which people do to prevent the Option ARMs from resetting? |
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Beetwasher (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 11:10 AM Response to Reply #19 |
21. Refinance To A Fixed Rate |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 11:13 AM Response to Reply #21 |
22. Well, I sure hope that option is open to these people in this tighter credit environment... |
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foxer (255 posts) Send PM | Profile | Ignore | Sat Feb-09-08 04:12 PM Response to Reply #22 |
24. They should issue "signing statements" |
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Lone_Star_Dem (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 04:25 PM Response to Reply #21 |
25. Refinancing: Only for the privileged few |
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bluestdogest (51 posts) Send PM | Profile | Ignore | Sun Feb-10-08 08:22 AM Response to Reply #19 |
26. Simply replace the ARM with a low, fixed rate loan. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Sun Feb-10-08 10:00 PM Response to Reply #26 |
27. Wouldn't a lot of these people be prevented from doing that by tighter lending standards? |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 11:08 AM Response to Original message |
20. Kick n/t |
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Dorian Gray (1000+ posts) Send PM | Profile | Ignore | Sat Feb-09-08 12:15 PM Response to Original message |
23. I've never heard of that kind of loan |
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