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Non-Cattle Specific Topics
Coffee Shop
Mortgage Bailout ?
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<blockquote data-quote="TexasBred" data-source="post: 564274" data-attributes="member: 6897"><p>Gotta go along with Bandit and Boogie on this....good explaination on the ARM's Bandit....but...a lot of these loans actually began with negative ammortization and then when you throw in that adjustment to reality to Sh1t hit the fan...</p><p></p><p>I understand a lot of automobile leasing companies are looking at the same thing happening. They can get some dummy into a Caddy or a Lincoln for $319 a month which won't even cover the cost of the dealer floor plan interest and the customer drives the wheels of it and when the lease is up the dealer eats his big loss but gets a ragged out car back if he wants it...In reality the customer couldn't qualify for a decent used car loan. The same for these borrowers as well as extremely inflated prices on properties...you'll see the California market take a huge tumble while their working on getting their real estate values more realistic.</p></blockquote><p></p>
[QUOTE="TexasBred, post: 564274, member: 6897"] Gotta go along with Bandit and Boogie on this....good explaination on the ARM's Bandit....but...a lot of these loans actually began with negative ammortization and then when you throw in that adjustment to reality to Sh1t hit the fan... I understand a lot of automobile leasing companies are looking at the same thing happening. They can get some dummy into a Caddy or a Lincoln for $319 a month which won't even cover the cost of the dealer floor plan interest and the customer drives the wheels of it and when the lease is up the dealer eats his big loss but gets a ragged out car back if he wants it...In reality the customer couldn't qualify for a decent used car loan. The same for these borrowers as well as extremely inflated prices on properties...you'll see the California market take a huge tumble while their working on getting their real estate values more realistic. [/QUOTE]
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