Detailed market commentary at The Market Ticker
(The Year 2012 In Review)
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|User Info||And So It Begins - The NEXT Implosion; entered at 2008-08-06 10:33:36|
Well it STARTS at 1%.|
You don't make it to year 5 on any of these that I've looked at if you make minimum payments. Roughly 3 years is where they go boom, with some differences from one lender to another depending on the teaser (if any) and annual escalator.
The problem is that at least half of all borrowers who took these are making only minimum payments.
Last modified: 2008-08-06 10:34:06 by genesis