http://www.businesspundit.com/adjustable-rate-mortgages-leading-are-housing-crisis-next-wave/ Entrepreneurship, Startup Companies and Business Philosophy Mon, 23 Nov 2009 02:54:25 -0600 http://wordpress.org/?v=2.8.5 hourly 1 http://www.businesspundit.com/adjustable-rate-mortgages-leading-are-housing-crisis-next-wave/comment-page-1/#comment-8218 Joe Manausa - Tallahassee Real Estate Thu, 28 Aug 2008 20:59:12 +0000 http://www.businesspundit.com/?p=4950#comment-8218 This is absolutely the case. There are scores of 3 year, 5 year, 7 year and even 10 year arms that are just starting to hit there adjustment cycle. This means that these homeowners will be moving from a low rate, interest only loan, to a little higher rate, amortized loan. And remember, the amortization period will not be 30 years, rather it will be 27,25,23 or 20 to correspond with the initial loan terms. Ouch. This is absolutely the case. There are scores of 3 year, 5 year, 7 year and even 10 year arms that are just starting to hit there adjustment cycle. This means that these homeowners will be moving from a low rate, interest only loan, to a little higher rate, amortized loan. And remember, the amortization period will not be 30 years, rather it will be 27,25,23 or 20 to correspond with the initial loan terms. Ouch.

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