for Dancing Fire

[movie zombie]

http://www.investors.com/editorial/IBDArticles.asp?artsec=5&issue=20060322

"Plus, the surge in option ARMs has created a slew of borrowers who can choose not to even pay the full interest for an initial period. Last week, Washington Mutual (WM) disclosed 47% of its option ARMs at year-end carried negative amortization, meaning unpaid interest is tacked onto the loan''s balance."

ouch!

however, the article still remains upbeat re the real estate market in general.

movie zombie

 

[Dancing Fire]

MZ
nothing surprised me in that article, i could of written that article a yr ago.i knew it was coming even before the so call experts.

negative equity
owners will throw their keys back to the lendors.
we will have the biggest mortgage default in history,thanks to those sucker type loans.

 

[movie zombie]

yeah, i knew there was nothing you couldn''t have written even two years ago but it is interesting that more and more coverage is happening. but those who have some cash stand to make some $$$ by picking up some of the ''returns''.

movie zombie

 

[Dancing Fire]

Date: 3/25/2006 12:05:41 AM
Author: movie zombie
yeah, i knew there was nothing you couldn''t have written even two years ago but it is interesting that more and more coverage is happening. but those who have some cash stand to make some $$$ by picking up some of the ''returns''.

movie zombie

you know it''s old news by the time it hits headlines. i''ll tell you more bad news for those whom default on their loan.the next time when they apply for any type of loan,the bank will tell them to take a hike b/c of their bad credit rating.

 

[movie zombie]

yep.

movie zombie