AJ30

Wall Street Breakfast: Must-Know News

To User197935, the problem arises when ARMs are adjusted sharply upward. Usually the homeowner was lulled into thinking if this happened, they could either refi or do a Home equity line to take up the slack until their income caught up. Needless to see with the air pushed out of the valuation balloon, this can't be done. Valuation decline slammed the escape hatch. Voila delinquency!