Here is affirmation of what I spoke of in my previous entry on 08/21/07. And a lot of people are against this idea because they think it would unfair that sub-primers can lock into a sub-prime rate. But if the average of their current rate and the reset rate, for example if now their current rate is 3% and will reset to 9%, then the average would be a 6% rate on their loan. To me it is a question of what would be the bigger loss to place a cap on the arm or face massive foreclosures. At least the banks still hold on to the properties which still have some worth and may increase in time and they are still collecting money on a monthly basis. and not only will that it give the banks some credibility they also hold on to the property which is equity for the banks and will rise in time. Patience is a virtue. Now if the homeowner cannot afford the 6% rate then that is a different story.
2 comments:
Gostei muito desse post e seu blog é muito interessante, vou passar por aqui sempre =) Depois dá uma passada lá no meu site, que é sobre o CresceNet, espero que goste. O endereço dele é http://www.provedorcrescenet.com . Um abraço.
Hello. This post is likeable, and your blog is very interesting, congratulations :-). I will add in my blogroll =). If possible gives a last there on my blog, it is about the Projetores, I hope you enjoy. The address is http://projetor-brasil.blogspot.com. A hug.
Post a Comment