You can see why maybe 2007 marked the bull mkt top? This is where the SUBPRIME loans were to reset and were greatest volume.These numbers blow the doors off the "containment" theory. Rather than being limited to a few million mortgages, the risks of re-sets or sinking equity affect fully 75% of all households holding mortgages in the U.S.
From Mid 2009-2011 we have to get through ALT-A and option adjustable mortgages, and in almost every case, the NEW RATE will be HIGHER than current.
ANyone telling you this crisis is BEHIND us is not telling you all the facts. And instead of the BANKS DEALING with the defaulted underwater loans, they now can use their own methods of pricing them and most are STILL on their books!!!!!
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