Wall Street Breakfast: Must-Know News [View article]
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!
Wall Street Breakfast: Must-Know News [View article]
Gebby you are SO correct! "If it bleeds, it leads" mentality of the press has almost destroyed their readership. Mark Twain was right on the money when he said "To NOT read a newspaper is to be Uninformed, but to read them is to be Misinformed". Unfortunately the other media outlets are folloeing in the newspapers footsteps.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]