Where is the Bottom of the Mortgage Market?
Greetings Investors,
I don’t want to pitch doom and gloom, but this is a relevant question. Where is the bottom of this market? Are we getting close? Will it be over in 2009?
No one really knows the answer to these questions, but below is a video that gives some insight as to what is really going on and that the bottom might not be anywhere near where we stand today. Most people are familiar with the Sub-Prime mortgages and the Adjustable rate mortgages, but that isn’t the worst part.
The Second Wave of Mortgage Increases
There is a second wave of mortgages to wrech the mortgage market that are about to start foreclosing. They are called Altae and Option Arm mortgages that are set to begin resetting the mortgage rates higher. This is going to case another 1.5 Trillion dollars in mortgages to begin to move into the danger zone. According to the speaker, there is a problem because many of these people are foreclosing before the loans have started to adjust. It doesn’t look like a good situation ahead.
Many people in this business of selling real estate investing information and real estate investing that I should not put information out there that tells the doom and gloom of the market. They would prefer if I would keep peddling a rosey picture so you would continue to sink your money into their products, services, and real estate.
I don’t believe that is good business. I believe that you deserve the truth and you can make your decisions from there. Yes, there is a lot of money to be made by people that have the savvy and understanding to buy and work in this market. In order to do that, you need the truth.
More Bad News
That’s right! There is more bad news ahead. According to the video, after this second wave of rising mortgage rates and defaults will come the same situation in the commercial sector. The same nonsense that was dealt to the people in the residential markets was dealt to the people in the commercial markets and they are beginning to feel the pinch as well. This market just takes a little longer before the problem is really felt on a massive scale.
Watch this Video
Check out this video and you will get some more of the truth. My question is, do you think the Bottom of the market is near?
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