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what I find mildly interesting is when we stomp out his fire with the facts, he just changes arguements. (but blames the same people)
"housing costs"
did sombodys ARM go up a couple of points? Hmmm?
Let's look at a three-year ARM on a $200,000 mortgage. Taken out in 2003 at a rate of four percent, the monthly payment was $955. Now, the rate could jump as high as 7.6 percent, boosting the payment to $1,375, a 44 percent increase.
The percentage of loans resetting with negative home equity is expected to leap from 12.9 percent in 2007 to 24.4 percent in 2008. That’s when some of the most frequently used 2/28 mortgages, which called for two years of low payments and 28 years of higher payments, and 3/27 mortgages, which called for three years of low payments and 27 years of higher payments, are scheduled to reset.
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We are not primarily on earth to see through one another, but to see one another through
Some people are like slinkies: not really good for anything... but you can't help laughing when you push them down the stairs
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