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It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!

 
DragonsFall
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User ID: 852374
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12/29/2009 03:54 PM

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It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
I remember watching this 1 year ago... well, here we are.. get ready for the second wave!

Anonymous Coward
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12/29/2009 04:39 PM
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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!


Link:
Economic Collapse 3.0 - The Implosion
[link to www.youtube.com]
Maximus Interruptus II
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12/29/2009 07:41 PM

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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
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DragonsFall (OP)

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12/29/2009 09:55 PM

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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
well, I posted this more as a reminder to everyone that we're not even halfway through the game... Subprime was the word of the year... next year option arms will be the new subprime.. We are JUST now entering round 2 guys-girls :)! 2010 is going to be a HELL of a year! Good luck GLP!

hiding
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12/29/2009 10:00 PM
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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
I thought rates are low, so the Option Arms aren't resetting in a catastrophic way.
DragonsFall (OP)

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12/29/2009 10:09 PM

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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
I thought rates are low, so the Option Arms aren't resetting in a catastrophic way.
 Quoting: Anonymous Coward 767411


I didn't think the rates had anything to do with it.. I thought the rates where pre-set at the time the loans where made. Can you explain? Maybe I'm wrong but I thought the option arms would be a repeat of 08 - 09.
Anonymous Coward
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12/29/2009 10:11 PM
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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
I thought rates are low, so the Option Arms aren't resetting in a catastrophic way.
 Quoting: Anonymous Coward 767411



True. My option arm mortgage (I know, I'm an idiot) is with Chase and was due to reset last year but they sent me a letter to extend the intial rate until 2012, so I accepted. Doom is off until 2012 for me...maybe.
DragonsFall (OP)

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12/29/2009 10:14 PM

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Re: It's time ! Get ready for wave TWO!! Subprime is out - Option ARMS are IN!
I thought rates are low, so the Option Arms aren't resetting in a catastrophic way.



True. My option arm mortgage (I know, I'm an idiot) is with Chase and was due to reset last year but they sent me a letter to extend the intial rate until 2012, so I accepted. Doom is off until 2012 for me...maybe.
 Quoting: Anonymous Coward 727524



thanks for chiming in... ok, well maybe it's just more of the 'kick the can' down the road.. business as normal these days.

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