Relevant:
- Countrywide's New Scare - 'Option ARM' Delinquencies Bleed Into Profitable Prime Mortgages
- Option ARMs for Dummies: Why 4.5 Percent Mortgages Rates will do Absolutely Nothing for these Toxic Assets.
- Stated Income (Liar Loans) Still Available for Some
- With Fixed Rates This Low, Who Needs ARMs?
- Mr Mortgage: Actual IndyMac (Exotic) Loan Modification
2008-04-29 — ml-implode.com
``This simple table below illustrates how so much affordability has been lost in the past year. Without exotic loan programs/guidelines such as interest only, stated income, zero down, 2nd mortgages to replace down payment, higher debt-to-income (DTI) ratios, Pay Option ARMs etc, we have gone back to a 30-yr fixed rate society overnight.''
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