If you missed 60 Minutes last night SEE IT. Urgent - it is about Florida! Our friends at Miamicondo Forum have the 60 Minutes segment posted. Hit the link to see it. Watch it again if you did see it.What the segment says: The Option Arm loans with the teaser rates are resetting (see image above from 60 minutes, I added the white writing). Expert, Whitney Tilson, believes 70% of these resetting loans will end up in foreclosure because many people are already getting foreclosed on with the teaser rates. When these loans reset mortgage payments could double, leaving the owners with unaffordable payments. Tilson says we are halfway through the bursting of the real estate bubble because of these loans.
Shit!
3 comments:
The Miami Herald business story experts did not even mention what was contained in the 60 Minute segment. Seems like they should have mentioned these teaser rate loans.
Excellent post geniusofdespair. I think we're on the same wavelength...only your bar graph was much fancier than mine.
http://housingbath.com
Well Housing Bath...I know photoshop. It comes in handing for dressing up other people's graphics.
Post a Comment