I hope it ends by next year cause I'm scared!!!
2007-11-18 10:57:07 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
many, many more adjustable and interest only loans will be resetting to a higher monthly payment next year, causing more and more short sales and repos. This isn't over for many years to come.
2007-11-18 11:08:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are millions of mortgages due to reset in the spring of 08, so no we are not out of the woods yet. Credit remains tight and will for a few years to come. That removes eligible buyers from the market and continues the depreciation of homes on the market because supply out does demand. Do not see a leveling off of prices for at least 18 months, and a rebound in the market for at least 5 years. Read all the business news on all the sites and you will come to the same conclusion.
2007-11-18 11:33:35 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
According to the numbers, last August was the low point and we are now on the road to recovery. If you are scared that must be because you have an adjustable rate mortgage and if you do you need to refinance as soon as you can.
2007-11-18 11:05:08 · answer #3 · answered by linkus86 7 · 0⤊ 0⤋
I think in a lot of the US 2008 will be tough. But when the market turns it will not matter how many adjustable rate mortgages are set to reset.
2007-11-18 12:00:34 · answer #4 · answered by glenn 7 · 0⤊ 0⤋
The crisis are over now since Reverse Mortgage is stablizing the situtation very quickly.
2007-11-18 12:38:59 · answer #5 · answered by JIGz 1 · 0⤊ 0⤋
it will last as long as people are negative. There are still good loans out there. Just nobody wants to do anything cuz of fear.
2007-11-18 11:13:35 · answer #6 · answered by Roger Ba 1 · 0⤊ 0⤋