Comments on: Option ARMs for Dummies: Why 4.5 Percent Mortgages Rates will do Absolutely Nothing for these Toxic Assets. http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: humanzee http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82653 humanzee Sat, 26 Mar 2011 04:12:36 +0000 http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82653 printfaster waxes sci-fi: <> Laughing till I vomit -- sputtering & spewing through the hurling chunks, I humbly suggest, might it be a wee bit LATE for any sort of happy new beginnings? Just a wee bit, eh??!!! God save the Queen! Lettuce prey. printfaster waxes sci-fi: <>

Laughing till I vomit — sputtering & spewing through the hurling chunks, I humbly suggest, might it be a wee bit LATE for any sort of happy new beginnings?

Just a wee bit, eh??!!!

God save the Queen!
Lettuce prey.

]]> By: humanzee http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82651 humanzee Sat, 26 Mar 2011 04:01:08 +0000 http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82651 Thank you & well put. I've been completely stunned senseless at the magnitude of savage, brutal immorality involved in this whole twisted nightmare. God save the Queen! Lettuce prey. Thank you & well put.

I’ve been completely stunned senseless at the magnitude of savage, brutal immorality involved in this whole twisted nightmare.

God save the Queen!
Lettuce prey.

]]> By: humanzee http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82650 humanzee Sat, 26 Mar 2011 03:50:10 +0000 http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-82650 You lose . . . badly . . . . embarrassingly so. You lose . . . badly . . . . embarrassingly so.

]]> By: Biren http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-45839 Biren Mon, 08 Mar 2010 02:00:46 +0000 http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-45839 I currently have a PAY Option Arm and have being paying interest and little of the principal for 3 years now. My property value is down and I've pretty much lost the 25% down and then some. My intent was to refinance in a couple of years to a fixed or sell. I love my property and would like to continue to own it. I've review the financing with couple of agents and they told my best option is to go back to the lender. The lender Countrywide/Bank of America and encourages me to miss a couple of payments before they will talk to me. I'm just tired of calling them and spending days on the phone with them talking to various departments. Each time have to explain what I want. Oh I continue to receive the junk mails encouraging me to call them to get out the Option Arm loan. One thing they are not able to tell me is what my interest rate will be fixed at after 5 years. My documents seem to indicate 9.5% but I think that is the CAP. Anyone have any thought on what I should do, stay with it for 5 years and then hope to convert it to a fixed. I currently have a PAY Option Arm and have being paying interest and little of the principal for 3 years now. My property value is down and I’ve pretty much lost the 25% down and then some. My intent was to refinance in a couple of years to a fixed or sell. I love my property and would like to continue to own it. I’ve review the financing with couple of agents and they told my best option is to go back to the lender. The lender Countrywide/Bank of America and encourages me to miss a couple of payments before they will talk to me. I’m just tired of calling them and spending days on the phone with them talking to various departments. Each time have to explain what I want. Oh I continue to receive the junk mails encouraging me to call them to get out the Option Arm loan. One thing they are not able to tell me is what my interest rate will be fixed at after 5 years. My documents seem to indicate 9.5% but I think that is the CAP. Anyone have any thought on what I should do, stay with it for 5 years and then hope to convert it to a fixed.

]]> By: Dee http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-34394 Dee Mon, 09 Mar 2009 11:07:31 +0000 http://www.doctorhousingbubble.com/option-arms-for-dummies-why-45-percent-mortgages-rates-will-do-absolutely-nothing-for-these-toxic-assets/#comment-34394 Don't forget to consider that treasury yields and LIBOR can go much higher. When I figure out my worst case, I look at the rate cap. I think we have at least 1 year before we're at higher rates than we are today. I expect that in 2 years, we'll be back at 5%. In five years, I think we'll be at 8%. Now is the time to send a couple hundred extra per month to knock down principal. Don’t forget to consider that treasury yields and LIBOR can go much higher. When I figure out my worst case, I look at the rate cap. I think we have at least 1 year before we’re at higher rates than we are today. I expect that in 2 years, we’ll be back at 5%. In five years, I think we’ll be at 8%. Now is the time to send a couple hundred extra per month to knock down principal.

]]>