[Bean Counter]

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??

[happydogx2]

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

[zek157]

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.