Interest only loans, and the delinquencies and houses behind them, shall be dropping from the sky faster than you can say Professor Marvel!
Those taken out in 2003-06 will be resetting over the next 5-7 years. As a real estate professor quoted in the above article said, if you’ve got one of those “you’re cooked”.
Gorilla says: “You can be greedy and you can be stupid. But the interest on being both is usurious!!!”
Tags: banks, mortgages, Professor Marvel
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on Wednesday, September 9th, 2009 at 7:58 am and is filed under Gorilla Meek.
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