Real estate blog entries tagged with credit suisse by Tamara Heyward (Self-Help)

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Home : Blogs : Tamara Heyward : Tamara Heyward's Blog : Tag "credit suisse"

credit suisse: Option ARMs are the next wave in foreclosures? - 08/20/08 11:28 AM

Credit Suisse has reported that a second wave in the foreclosure crisis may be on the horizon. Option ARMs, which I've probably ranted about enough (see Wachovia Reigns In Pick-A-Pay Parts I and II), are scheduled to start resetting en masse around 2009, with the most reset volume coming in 2010-2011. A particularly onerous feature of these loans is that even if your first scheduled reset is five years, the loan can reset sooner once your negative amortization reaches a certain point.
The payment shock is expected to be much more severe for option ARMs than for subprime ARMs. You think a 10% … (6 comments)

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Tamara Heyward

Durham, NC

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