[IllumiNaughtyByNature]

I would disagree with your assesment that A LOT have been refinanced due to the stricter guidelines on income and the overall appraised values of the houses. There are A LOT more that are still plugging along that are still ARMS.

start here

and here

here too

this too

These are a good start. The key take away was from the 2nd article that said 94% were making minimum payments. BOOM!

[Freedom_Is_Not_Free]

My apologies for implying I knew. I don’t know. I don’t know how may have refinanced. I meant it as an issue to ponder rather than stating my conviction.

No, I don’t know the number of homes refinanced since the original foreclosure crisis with the Option ARMs. I just recall the massive amount of Alt-As due to finance in 10/11 with Wave II and remember vaguely hearing it may not be as bad as Wave I because many of those had good credit and could refinance, while most of the Option ARM borrowers in Wave I had bad credit, were upside-down on loans with no chance to refinance.

No, please I don’t mean to say a lot have been refinanced. I still think most haven’t. I simply said, if there isn’t a big Wave II, I won’t be SHOCKED, because it was my impression many had refinanced. Certainly, if there is a big Wave II foreclosure crisis in residential housing, that won’t shock me either.