Comments on: Stage Two of the Mortgage Collapse: $500 Billion in Pay Option ARMs Meet the Piper in 2008 with 60 Percent Being in California. http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 22 Nov 2008 09:22:38 +0000 http://wordpress.org/?v=2.2.2 By: Paisano1 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-25421 Paisano1 Fri, 03 Oct 2008 20:06:35 +0000 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-25421 This bailout will go down in history as the last act of Congress in a Free America - they will not be coming back into session - stock up on the essentials: beans, rice, gold, ammo. http://tinyurl.com/4zygyh Hello Fascism! This bailout will go down in history as the last act of Congress in a Free America - they will not be coming back into session - stock up on the essentials: beans, rice, gold, ammo.

http://tinyurl.com/4zygyh

Hello Fascism!

]]> By: David http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-25037 David Fri, 26 Sep 2008 08:40:20 +0000 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-25037 Hello, I am not knowledgeable about refinancing. I am currently in the exact arm loan, in the above article, from Wachovia. One thing that was not mentioned is that many of these loans have a $200.00 option to go to a fixed loan with no other costs. How do I know when I should do this? I don't even really understand the math behind the index and my rate. I also have a large non-conforming amount. Wachovia is advertising values based on the $417,000 conforming, but was that recently changed to a much higher value? Shouldn't they be advertising based on that value? Thanks, David Hello,

I am not knowledgeable about refinancing. I am currently in the exact arm loan, in the above article, from Wachovia. One thing that was not mentioned is that many of these loans have a $200.00 option to go to a fixed loan with no other costs.
How do I know when I should do this? I don’t even really understand the math behind the index and my rate. I also have a large non-conforming amount.
Wachovia is advertising values based on the $417,000 conforming, but was that
recently changed to a much higher value? Shouldn’t they be advertising based on that value?

Thanks,
David

]]> By: Jack http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-22638 Jack Sat, 23 Aug 2008 16:41:29 +0000 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-22638 We deal with this housing catastrophi every day from every part of the country and it's quite a puzzle. We audit loan documents for borrowers and in almost all cases the income on the original application is fraudulent (inflated). The borrowers say they have no idea of it, the lender says the borrower signed attesting to it and the broker (who in many cases is no where to be found) is always the perpetrator. Many, particularly in the Malibu and other high priced areas of CA believed they'd become wealthy by "buying" multiple properties w/ NegAm loans, they are now losing them all.Other's worked w/ the broker to scam the lender for origination fees. All involved, including the original architects "gov't." are now trying to figure out an "out". The fun is just beginning! We deal with this housing catastrophi every day from every part of the country and it’s quite a puzzle. We audit loan documents for borrowers and in almost all cases the income on the original application is fraudulent (inflated). The borrowers say they have no idea of it, the lender says the borrower signed attesting to it and the broker (who in many cases is no where to be found) is always the perpetrator. Many, particularly in the Malibu and other high priced areas of CA believed they’d become wealthy by “buying” multiple properties w/ NegAm loans, they are now losing them all.Other’s worked w/ the broker to scam the lender for origination fees. All involved, including the original architects “gov’t.” are now trying to figure out an “out”. The fun is just beginning!

]]> By: velocedog http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-18783 velocedog Sun, 22 Jun 2008 23:56:55 +0000 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-18783 You're on FIRE. I suggest(humbly) the Rumple Stiltskin and D-liberate get the last two Nobel prizes that will ever be given before the rest are melted down for bullets. Arnold may have to break out the exoskeletons just to restore order if you're right--and you probably are. I'm outside the US reading this right now--good luck, and get to work on those Mandarin&Cantonese lessons. You’re on FIRE.
I suggest(humbly) the Rumple Stiltskin and D-liberate get the last two Nobel prizes that will ever be given before the rest are melted down for bullets.
Arnold may have to break out the exoskeletons just to restore order if you’re right–and you probably are.
I’m outside the US reading this right now–good luck, and get to work on those Mandarin&Cantonese lessons.

]]> By: D-Liberate http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-18532 D-Liberate Wed, 18 Jun 2008 19:54:37 +0000 http://www.doctorhousingbubble.com/stage-two-of-the-mortgage-collapse-500-billion-in-pay-option-arms-meet-the-piper-in-2008-with-60-percent-being-in-california/#comment-18532 The housing crisis, the energy crisis, the immigration crisis, and all the "homeland security" BS is a deliberate attempt to facilitate the liquidation of all national assets. Even before Clinton gave the deeds to our national parks & natural resources to the UN as collateral, we have been engaged in the largest bankrupcy reorginization in history. One angle is the North American Union situation. We know that many laws are being commonized for Mexico, Canada, and the US to ultimately remove borders in an EU sense. We will see the US and Canadian dollars reach a 1:1 ration and the dollar/peso relationship will move to 1:10 (these are pretty much there now.) That will allow a currency conversion to the Amero for the entire continent in a smooth manner. But before the new money is in our pockets, the bad guys need to make sure they are handing out the least amount possible to the peons, thus the crap happening now. It is all designed to drain your savings to zero and suck up all of your disposible income so there will be a less complicated "conversion" to the new system. The other angle is that the the poor shape of the dollar is increasing all costs, yet the value of assets is falling. This will be perfect for China (or whoever) to come over and buy up everything of value (at a fraction of the traditional/historic value) with our own dollars! Land, corporations, water treatment facilities, roads, whatever -- they are all for sale, and they will not be bought by Americans... When Obama offers the grand solution of wealth redistribution via a new currency and other bells and whistles, remember that all this stuff was put in place to get you to ENTHUSIASTICALLY accept the premeditated solution. The housing crisis, the energy crisis, the immigration crisis, and all the “homeland security” BS is a deliberate attempt to facilitate the liquidation of all national assets. Even before Clinton gave the deeds to our national parks & natural resources to the UN as collateral, we have been engaged in the largest bankrupcy reorginization in history.

One angle is the North American Union situation. We know that many laws are being commonized for Mexico, Canada, and the US to ultimately remove borders in an EU sense. We will see the US and Canadian dollars reach a 1:1 ration and the dollar/peso relationship will move to 1:10 (these are pretty much there now.) That will allow a currency conversion to the Amero for the entire continent in a smooth manner. But before the new money is in our pockets, the bad guys need to make sure they are handing out the least amount possible to the peons, thus the crap happening now. It is all designed to drain your savings to zero and suck up all of your disposible income so there will be a less complicated “conversion” to the new system.

The other angle is that the the poor shape of the dollar is increasing all costs, yet the value of assets is falling. This will be perfect for China (or whoever) to come over and buy up everything of value (at a fraction of the traditional/historic value) with our own dollars! Land, corporations, water treatment facilities, roads, whatever — they are all for sale, and they will not be bought by Americans…

When Obama offers the grand solution of wealth redistribution via a new currency and other bells and whistles, remember that all this stuff was put in place to get you to ENTHUSIASTICALLY accept the premeditated solution.

]]>