Quote:
Originally Posted by Homeslice
Rates will be held low for as long as possible, becuase the gov't thinks inflation is better than deflation. And as for balloon schemes, what % of the mortgage market are we talking about? Balloons can't be more than 5-10% of the market.
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I have no idea.
I'd imagine it is pretty location specific. Areas you saw rise fast and fall hard would have the largest percentages.
Living in S. Florida, it seems like the majority of purchases during the boom days were done that way (especially on "investment" properties). I've even known people with negative amortization loans. :shock:
A lot of those have reset already. Many have not.
Like goof said, there may be a second wave still coming.