ABC News starting to report the aftermath
The housing bubble popped late last year and if you are reading this, it is not news to you. What is interesting is that the mainstream media is finally getting some stories out. They are more of historians than anything.
Thanks to bpl_200_mbps from a Housing Panic comment for this ARM victim video. We are not trying to ridicule people, but more so educate others so they don't make avoidable mistakes.
Thanks to bpl_200_mbps from a Housing Panic comment for this ARM victim video. We are not trying to ridicule people, but more so educate others so they don't make avoidable mistakes.
posted by Out at the peak at
10:25 PM
3 Comments:
Excellent video! I'm sure we'll be seeing more of the same in the future.
By
Randy, at 8:45 PM
I don't want to make fun either, but what in the blazes were these people thinking??? They act like, "whoa, what a surprise we had here!" Did they not understand what an ARM was???
I guess not.
By
Catherine Wilkinson, at 12:01 PM
What it comes down to is people might presume that a 1% rate change will only affect the payment slightly. I don't think the loan officer walks through all the scenarios with the borrower.
The reality is each 1% change is a drastic payment alteration. The AFB blog owner was a loan officer and he described many scenarios.
By
Out at the peak, at 1:40 PM
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