06-12-2009, 12:26 PM
|
#1
|
|
Banned
Join Date: Dec 2004
Location: IGNORE LIST OR BAN LIST
Posts: 7,839
|
Option ARMs Threaten Housing Rebound as Resets Peak
Option ARMs Threaten Housing Rebound as Resets Peak (Update2) - Bloomberg.com
Quote:
Shirley Breitmaier’s mortgage payment started out at $98 when she refinanced her three-bedroom home in Galt, California, in 2007. The 73-year-old widow may see it jump to $3,500 a month in two years.
Breitmaier took out a payment-option adjustable rate mortgage, a loan popular during the housing boom for its low minimum payments before resetting at higher costs later.
|
|
|
|
Linear Mode
