Friday, October 07, 2011
The Mortgage Reset Chart...
Following up the IMF Advisor's statement post below, here is my favorite chart. Demeur reminded me to post this in comments. Thanks buddy!
We've hit THE PEAK in Alt-A Mortgage reset/recasting. It takes 90-days of mortgage default for the Banksters to start a foreclosure. So... it's pretty easy to see that we're at a very serious precipice, the effects of which will be known very, very soon.
To make it clear-- anyone still in an Alt-A mortgage, who has not been able to re-fi because their mortgage is underwater, or because of other outstanding debt, is getting a Notice of Principle and Interest Reset. There is a great watering of the guts amongst them right now, as they realize the game is up, they can no longer afford their payments, and they're about to lose their homes.
Click the chart for bigger size-- click it again for ginormous-size:
As their is no "Bottom-Up" Plan B, there is no hope of anything returning to normal within the next 2-3 years, as the chart demonstrates.
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Labels: #occupywallstreet, Banksters, Collapse, Real Estate Crash
