The Option Arm Is Not A Sub Prime Product
WOW! This is getting quite scary, don’t you think?
Have you been seeing all the Lenders that, ummm let just say, have “cut back” on their sub-prime production lately? I heard a figure that over 50 companies have “cut back”. (ok, yes I know some may no longer be in existence, but I’m trying to be nice about it). I also heard a figure that within the next year, there will be over 1 million new foreclosures because of all this sub-prime stuff.
Well, if you’ve been reading my post for while, you’ll know that my belief is the Pay Option Arm is NOT a sub-prime product and should not be sold as one.
January 12, 2008 | Filed Under Business | Leave a Comment