Quote:
Originally Posted by eweissenbach
Possibly a significant number of foreclosures were caused by taking low interest ARM loans of which the interest rate increases rendered them unaffordable for the borrowers.
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good point! also a segment of the foreclosures which would be financial rate for those who didn't refinance the ARM when rates were low. we purchased in 2018/2019 with a 5 year ARM at 4.5 rounded, refinanced for 3% in the january 2021when the rates were at rock bottom. .
There was a foreclosure in TV and the couple divorced or something, unknown reason, and they just abandoned the house. . didn't even try to sell it. . weird. . and with a 20% down payment, that was like 80K they threw away
all is fine until humans get involved. . just strange. .