Paul Knag points out some ominous forward affects of the consumer ARM inventory.
Opportunity: If you think investors are prepared open up or get creative in future mortgage products to work-out payment shocked clients. Or, some magical nationwide, rapid property value appreciation.
Doom: If you think investors will still maintain tight loan amount and equity guidelines. And, no magical economic indicators to support nationwide, rapid property value appreciation.
Consumers: It is time to find ways to rapidly increase your income or reduce non-mortgage debt!
Tags: ARM, subprime, paul knag, mortgage, resets
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