Posted on 08/06/2009 9:33:22 AM PDT by Stayfree
Your statement proves my point
Good point, but where’s the data? If there were that many people in stable 30 year 5%-6% mortgages, would we be expecting over 2 million foreclosures by the end of this year??
Here is an article in January 2009 that states Realty Trak expected 3 million foreclosures in 2009.
Those numbers are now obsolete, it’ll be a lot more.
http://www.allheadlinenews.com/articles/7013609484
and loans on motorcycles, trailers, rv’s, boats, trailers, atv’s, jetskis, etc.
Are there prime notes in ARM portfolios?
I thought by their nature ARM notes were not Prime, but I may be mistaken.
ARMs of course are another story. You expect ARMS to be under water/forclosed.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.