map of OPTION ARMS from 2006 (not foreclosures)

Mar 20th, 2008, 09:25 PM #1 (**permalink**)

Has anybody else seen this already?

http://images.businessweek.com/gen/map_of_misery.jpg

Mar 20th, 2008, 09:45 PM #2 (**permalink**)

Hadn't seen that Slim. I can see that it came from businessweek. What was the date of this data?

Mar 20th, 2008, 09:52 PM #3 (**permalink**)

I am not sure. A friend forwarded it to me. I am checking though, and will let you know.

Mar 20th, 2008, 11:43 PM #4 (**permalink**)

I changed the thread title.

You've been hoodwinked.

This is a map of refis into OPTION ARMS that was occurring in 2006.

The article appeared in Newsweek back in 2006.

Here's a blog about it, posted Sept 3, 2006:

http://www.biggerpockets.com/renewsb...tion-arm-hell/

Interesting, but not foreclosures.

-Russ H.

Mar 21st, 2008, 05:13 AM #5 (**permalink**)

Thanks for the correction. I hadn't found any additional info about it yet or heard back from my friend who forwarded it to me.

Mar 21st, 2008, 06:01 AM #6 (**permalink**)

Option Arms alone wont cause misery. Taking the neg-am option every month in a depreciating market will though.

The problem will be when these people have a 5 year recast and there is no equity left to refinance with. Then they will be foreclosures.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)