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  • Option ARMs: The Banking Backdrop of 2009 [View article]
    I don't see how we will pull out of a recession before 2011. Housing clearly will not bottom before then, and the gov't seems hell bent on keeping that correction from happening quickly.
    Jan 05 04:31 am |Rating: +2 0 |Link to Comment
  • Option ARMs: The Banking Backdrop of 2009 [View article]
    the solution to the option ARM's is to REFINANCE the damn thing!!!!!11

    @ishortyou:

    you are *completely* missing the point. These loans will automatically refinance (recast) to a standard amoritizing 30 or 40 year loan. How is refinancing early going to help? I suppose it could for a lower rate. If they had enough equity, but... OOPS. That equity is gone.
    Jan 05 04:13 am |Rating: +1 0 |Link to Comment
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