The Sub Prime mortgage crisis has hit and the effects are still unknown. The Option ARM crisis has not hit yet. The Option ARM is not a Sub Prime loan!! People with good credit scores and low income have this too. Reckless home purchases and refinances with no long-term goal.
**Please note - $2661 was assumed to be interest-only payment for this video at 00:15 seconds...so, it should of been 8% fully indexed rate instead of 7%. Doesn't change much, just that one slide...I caught it too late. Sorry...**
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