i knew this was coming two yrs ago...

[Dancing Fire]

this is the reason why the housing bubble already bursted in some area .

http://biz.yahoo.com/ap/060619/foreclosure.html?.v=4

 

[VegasAngel]

Bad for the people who may possibly lose their home good for people like my husband & I who want a bigger house with an uninflated price. There will be plenty available once people start to default.

 

[Allisonfaye]

Yeah, it was pretty obvious this was going to result at some point, especially with the interest only type loans.

 

[dani13]

Thank goodness I listened to my dad and chose the 30 yr fixed...oh and DF, I read a lot of your posts too- very helpful...I went back and forth a litte bit between traditional and interest-only (well, not really, but I did consider the IO briefly) but in the end chose traditional for many reasons...yikes, that story is just sooo scary....

 

[Dancing Fire]

Date: 6/20/2006 5:16:05 AM
Author: Dani
Thank goodness I listened to my dad and chose the 30 yr fixed...oh and DF, I read a lot of your posts too- very helpful...I went back and forth a litte bit between traditional and interest-only (well, not really, but I did consider the IO briefly) but in the end chose traditional for many reasons...yikes, that story is just sooo scary....

good for you

there''re right times to use ARM (when IR is high) not when IR is still low. interest rate is heading in one direction and it AIN''T south.