Saturday, November 19, 2005

Almost Time for ARMs to Adjust


"The Mortgage Bankers Association estimates that some $330 billion worth of ARMs will adjust in 2006 and $1 trillion worth will reset by the end of 2007.

Since the average ARM loan is about $300,000, according to Freddie Mac, a trillion dollars probably represents more than 3 million homeowners who will face bigger bills in the next two years.

If you took out an 3/1 ARM for $300,000 back in late 2002, your initial interest rate was probably around 5 percent and your monthly payment has been about $1,610."



Anonymous Anonymous said...

Your posts are always interesting and informative. I appreciate all the work you put into this blog. I've learned a lot.

Saturday, November 19, 2005 8:09:00 PM  
Anonymous Anonymous said...

These Hotshot ARM buyers going to regret they ever heard of arms.

They deserve everything coming to them.

You have no discipline or patience then you learn the hard way!

Monday, November 21, 2005 6:58:00 PM  

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