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propertylender.c
1293 Posts |
 Posted - 05/22/2008 : 07:03:54 AM
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into 2009 and perhaps beyond , and although the complexion will change, the net effect will be the same: three years of multibillion-dollar revenue reversals," the Oppenheimer analysts wrote in a note, led by Meredith Whitney. Whitney has built up credibility for her bearish and prescient calls on Citigroup Inc."
I knew we were just getting started. I was hoping I would be wrong.
http://www.marke*****ch.com/news/story/credit-crisis-far-over-banks/story.aspx?guid=%7B1BC0102D%2D4AE8%2D4859%2D9E8E%2D5C5F0CBF9B1F%7D
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cvm2
234 Posts |
Posted - 05/22/2008 : 07:14:48 AM
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| The subprime arms that were resetting have peaked. The worst is over. |
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808
2597 Posts |
Posted - 05/22/2008 : 07:27:08 AM
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quote:
Originally posted by cvm2
The subprime arms that were resetting have peaked. The worst is over.
keep believing that when the Option Arms reset in 2009-2012. Your typical post on BO will be 'who can do a 125%LTV loan, property is not in a depreciating mkt'. You think FHA is gonna take those on streamline????? And I'm not even addressing how many people went Stated Income on those loans. Their are still too many people in way too much house |
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AGreene00
2820 Posts |
Posted - 05/22/2008 : 07:50:09 AM
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quote:
Originally posted by cvm2
The subprime arms that were resetting have peaked. The worst is over.
Keep believing that. The Option ARM wave in California and Florida has barely even begun as of yet. It's gonna be worse than the 2/28 wave. |
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homebroker@sbcgl
3527 Posts |
Posted - 05/22/2008 : 08:10:11 AM
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| The Option Armagedon recast will make a subprime loan rate adjustment feel like a day at Disneyland. Option ARMs could have payments recast 3-4 times of that of their teaser 1% payment options. On top of that the graphs show the market is getting much worse and quick. The largest drops in home prices ever just last quarter. The ARM resets peak from Dec 07 to Aug 08, this means after Dec it is about 6-8 months before we see those resets on the market as foreclosures. The mass inventory will further push prices down. In Dec we have 2-4 pages of trustee sales, today about 10 pages and getting worse by the day. There is no signs as of yet to show this crisis is geting any better any time soon. I expect when the Option ARM recast and oil prices skyrocke we well as everything else, major hardship on the economy is ahead, expect the worse and be prepared. Have you business plan prepared for the worse, those in denial are going to have a hard time. |
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