Mortgage Resets: why there is so much more pain ahead

Soberphobia · 11-12-2008, 10:54 PM

Found this graph of past and predicted mortgage resets - remember this is for the USA - who knows what carnage will be inflicted globally by the entire credit crisis in terms of mortgage resets, considering the low, low interests rates we've had globally in the last 7 years or so and the exotic debt instruments that have been building since then.

According to this (conservative) prediction, it will be 2012 at least before the mortgage reset situation stabilizes and hence around that time before the mortgage default situation moderates. Note the fact that the next wave of mortgage resets will be in so-called 'healthy' mortgages, not the 'risky' sub-prime mortgages that got the ball rolling in the first place.

[IMG]http://bigpicture.typepad.com/comments/images/2007/10/22/various_resets_and_defaults.png[/IMG]

sackdance99 · 11-12-2008, 11:07 PM

Almost anyone can now get a rate modification on their mortgage for about 5% by submitting a hardship letter to any credible institution who does refinances. They work directly with the banks who are doing anything they can so they don't inherit more homes that are upside down.

Tyler Durden · 11-12-2008, 11:16 PM

[QUOTE=sackdance99;2856810]Almost anyone can now get a rate modification on their mortgage for about 5% by submitting a hardship letter to any credible institution who does refinances. They work directly with the banks who are doing anything they can so they don't inherit more homes that are upside down.[/QUOTE]

I blame the fags, how about you?

dcJet · 11-13-2008, 01:28 PM

[QUOTE=Tyler Durden;2856824]I blame the fags, how about you?[/QUOTE]

No. This is Sarah Palin's fault.

dermlord · 11-13-2008, 02:50 PM

Can I get a mortgage modification if I am on time with payments (responsible borrower? Or do I get the shaft? In which case I blame the fags- Barney Frank in particular.

chicadeel · 11-13-2008, 04:15 PM

So what's the deal with credit card debt? They gonna bail out people or the banks?

Either way it's amazing. Sometimes I sit back and wonder why I try to be financially responsible. Seriously!

asuusa · 11-13-2008, 11:03 PM

[QUOTE]The Detroit City Council passed a resolution today calling for a $10-billion bailout for the city of Detroit.

Council President Pro Tem JoAnn Watson sponsored the resolution to use the money for public service employment, to fund mass transit plans and to place a moratorium on home foreclosures for two years.

The resolution specifically requests the council meet with Mayor Ken Cockrel Jr., Gov. Jennifer Granholm, the state’s congressional delegation, U.S. House Speaker [b]Nancy Pelosi[/b] and officials from President George W. Bush’s office and [b]President-Elect Barack Obama’s transition team.[/b][/QUOTE]:steamin:

[url=http://www.freep.com/article/20081112/NEWS01/81112065/1199/PRINT]source[/url]

sackdance99 · 11-14-2008, 10:03 AM

[QUOTE=Tyler Durden;2856824]I blame the fags, how about you?[/QUOTE]

eh, I guess you could actually.....

11-12-2008, 10:54 PM	#1
Soberphobia All League Join Date: Dec 2005 Posts: 3,440	Mortgage Resets: why there is so much more pain ahead Found this graph of past and predicted mortgage resets - remember this is for the USA - who knows what carnage will be inflicted globally by the entire credit crisis in terms of mortgage resets, considering the low, low interests rates we've had globally in the last 7 years or so and the exotic debt instruments that have been building since then. According to this (conservative) prediction, it will be 2012 at least before the mortgage reset situation stabilizes and hence around that time before the mortgage default situation moderates. Note the fact that the next wave of mortgage resets will be in so-called 'healthy' mortgages, not the 'risky' sub-prime mortgages that got the ball rolling in the first place. [IMG]http://bigpicture.typepad.com/comments/images/2007/10/22/various_resets_and_defaults.png[/IMG]

11-13-2008, 02:50 PM	#5
dermlord Practice Squad Join Date: Feb 2006 Posts: 43	question. Can I get a mortgage modification if I am on time with payments (responsible borrower? Or do I get the shaft? In which case I blame the fags- Barney Frank in particular.

11-13-2008, 11:03 PM	#7
asuusa All Pro Join Date: Jun 2004 Posts: 1,171	Big cities next at the hog trough? [QUOTE]The Detroit City Council passed a resolution today calling for a $10-billion bailout for the city of Detroit. Council President Pro Tem JoAnn Watson sponsored the resolution to use the money for public service employment, to fund mass transit plans and to place a moratorium on home foreclosures for two years. The resolution specifically requests the council meet with Mayor Ken Cockrel Jr., Gov. Jennifer Granholm, the state’s congressional delegation, U.S. House Speaker [b]Nancy Pelosi[/b] and officials from President George W. Bush’s office and [b]President-Elect Barack Obama’s transition team.[/b][/QUOTE]:steamin: [url=http://www.freep.com/article/20081112/NEWS01/81112065/1199/PRINT]source[/url]

11-12-2008, 11:07 PM	#2
sackdance99 Jets Insider VIP Join Date: Jul 2004 Location: The Jersey Shore Posts: 3,073	Almost anyone can now get a rate modification on their mortgage for about 5% by submitting a hardship letter to any credible institution who does refinances. They work directly with the banks who are doing anything they can so they don't inherit more homes that are upside down.

11-12-2008, 11:16 PM	#3
Tyler Durden Banned Join Date: Jan 2007 Posts: 31,171	[QUOTE=sackdance99;2856810]Almost anyone can now get a rate modification on their mortgage for about 5% by submitting a hardship letter to any credible institution who does refinances. They work directly with the banks who are doing anything they can so they don't inherit more homes that are upside down.[/QUOTE] I blame the fags, how about you?

11-13-2008, 01:28 PM	#4
dcJet Veteran Join Date: Feb 2006 Posts: 345	[QUOTE=Tyler Durden;2856824]I blame the fags, how about you?[/QUOTE] No. This is Sarah Palin's fault.

11-13-2008, 04:15 PM	#6
chicadeel All Pro Join Date: Feb 2006 Posts: 1,234	So what's the deal with credit card debt? They gonna bail out people or the banks? Either way it's amazing. Sometimes I sit back and wonder why I try to be financially responsible. Seriously!

11-14-2008, 10:03 AM	#8
sackdance99 Jets Insider VIP Join Date: Jul 2004 Location: The Jersey Shore Posts: 3,073	[QUOTE=Tyler Durden;2856824]I blame the fags, how about you?[/QUOTE] eh, I guess you could actually.....