I have an interview...

[brewer12345]

Quote:

Originally Posted by Laurence But your qualified Lending Agent has several attractive lending vehicles to help you get into this house of your dreams!*

Ooooh! Option ARMs! The cause of the coming real estate implosion! You have to laugh at an industry (mortgage lending) that is so desparate to keep their rolling boom going that they literally create a product that is destined to result in tragedy.

[cube_rat]

Indeed, there is bubble like you would not believe in the SF Bay Area. Things are slowing down. Houses are staying on the market longer. Prices are being cut in certain areas. It's a matter of time before a correction sets in.

Speaking of ARMS. I had one the first year. I just re-fi'd to a seven year fixed. Just to give you an idea of my personal ARM situation: In June 2004, my I/O payment was $1375.00. In July 2005, it was $1750.00. I don't know how others with 1mil dollar ARMS are coping right now. Yes, I said 1 million. My best friend is mortgage broker and routinely does I/O for 1mil +

[Nords]

Quote:

Originally Posted by brewer12345 ... that is so desparate to keep their rolling boom going that they literally create a product that is destined to result in tragedy.

One word: Enron.