Jump to content
House Price Crash Forum
Sign in to follow this  
Laughing Gnome

Option Arm Resets, Bum Notes, Billy Goats!

Recommended Posts

Sorry chaps, nothing really to add here, just on a trawl for latest information.

So stateside, it appears there has been outright fraud on an epic scale with MBS's tripple pledged around the globe if I get it. I don't really.

Right of tenure and foreclosure hugely in doubt for millions of homes.

And I have just remembered. Weren't Option ARM mortgage resets supposed to peak about now?

Are millions about to face their interest payments trippling on an increased amount of capital when their home is worth substantially less than was when the mortgage was taken out. And would there seen to be even less point in even attempting to pay when in 23 states or more it appears that foreclosure might not even be possible?

Any more detail on this? Option ARM was billed as the BIG ONE, but seems to have dropped below the radar.

Share this post


Link to post
Share on other sites

Just some more thoughts to add.

We may think this is an issue confined to the US but the buyers of these MBS's are very likely to have been UK banks (and pension funds). How much off the losses will be coming this way? (to be hidden with revised accounting rules of course).

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.