Can all these people reset their arms loans if the house is less than what they need to borrow?
How bad will it get? Here is some information so you can do the math.
July-08 50 million this month alone and 75 million last month. How many could refinance? What will the new foreclosures rates be and more job loss and open boaders for cheep labor do for stocks? S & P 950? The Real Estate Bloggers
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Today is Tuesday, July 01st, 2008 HomeAboutArchivesSitemap Adjustable Rate Mortgage Resets For 2007-2008
August 13th, 2007 • Related
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InvestorInsight has an interesting chart of the amount of adjustable rate mortgage resets that will be happening over the next year or so. While we think that there have been an incredible amount of mortgage resets in the past few months the real bubble will be occurring starting in January of 2008. For the period of January to April expectations are that 370 million billion in adjustable rate loans will reset.
Now in reality, most of these loans will be refinanced or kept up to date, but if the credit situation does not get figured out, there are going to many households that are going to be stressed.
Adjustable Rate Loan Resets For 2007–2008 Month Millions