Obama Care

joethiesmanfan · 04-16-2010, 08:26 AM

SUBPRIME

example Miami housing market :

Most mortgages that defaulted were those without nay tenants. Notice all the condo's without nay residents that went belly up!! The risk in subprimes came from people gambling, if I pay a fraction of the mortgage for two years the housing prices rise and if I can sell the house before my mortgage resets to a higher amount I make a profit. subrpimes allowed some people to over extend themselves, copycats begat copycats.

04-16-2010, 08:26 AM	#9
joethiesmanfan The Starter Join Date: Mar 2004 Posts: 1,163	Re: Obama Care SUBPRIME example Miami housing market : Most mortgages that defaulted were those without nay tenants. Notice all the condo's without nay residents that went belly up!! The risk in subprimes came from people gambling, if I pay a fraction of the mortgage for two years the housing prices rise and if I can sell the house before my mortgage resets to a higher amount I make a profit. subrpimes allowed some people to over extend themselves, copycats begat copycats.

Obama Care

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