Home Loans

[sherman]

www.ctloantrain.com

 

[LEYKIS101]

Sherman,

You will be primed for a lot of potential business in a few years when everyone's Interest Only and ARM loans expire/amortize. The companies offering the loans will have many of these borrowers by the balls then.

 

[JimmyHoffa]

Sherman,

You will be primed for a lot of potential business in a few years when everyone's Interest Only and ARM loans expire/amortize. The companies offering the loans will have many of these borrowers by the balls then.

Leykis,

Do you mean when the forclosure chickens come home to roost?

 

[LEYKIS101]

Leykis,

Do you mean when the forclosure chickens come home to roost?

It could be then Jimmy. I just think the lenders have the upper hand with all of these Interest Only and ARM's, borrowers are over-extending themselves just for the sake of getting in the Housing Market. Just last night Suze Orman said the exact same thing.

If prices drop a little bit I think the ones waiting on the sidelines scoop up on the dip, it will take another sizeable dip for us to see some real bargains and potential problems with the Housing Market. Not sure if that will happen or if the demand from all the potential buyers will be enough to prevent a significant downturn.

 

[sherman]

Those interest only arms like 1.25% can be great but you're right they will lead to alot of trouble for some people...

 

[JimmyHoffa]

Those interest only arms like 1.25% can be great but you're right they will lead to alot of trouble for some people...

So true Sherm. Interest only and ARMs are for the desperate home buyers and when the ARMs re-adjust, look out! In my opinion, the only way to sleep at night is with a 30 year fixed-rate conventional loan.