IMF monthly mortgage rate resets through 2015

This chart shows the mortgage resets until 2015. It shows the subprime mortgages dominate the market through from 2007-2009. This is where the foreclosures and defaults are right now. If you look at the years 2010/11 it shows the alternative options mortgages (option ARM's) will dominate. The majority of these loans will not be able to be refinanced due to homeowners selecting the minimum payment (negative amortization) and will be upside down when the loan resets. We are starting to see these properties come on the market now.

Banks have also been stockpiling their bank owned properties waiting to see what the current administration would do concerning bad loans or mortgages. Doesn't look like they will be able to dump these loans on the taxpayer (as of today). December 09 we will start to see the bank owned properties come back on the market in big numbers. Unfortunately, this is going to affect the local markets driving down home prices.

Kenden Post-CDPE, ePro

Coldwell Banker Burnet-Apple Valley, Minnesota

www.OurFirstMinnesotaHome.com

Kenden@KendenPost.com

(o)952-997-1960, (f)952-997-8810, (c)612-310-6304

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