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Posted: 9/10/2010 1:18:14 PM EDT
i am curious about something. post here and i'll i.m. you.
Link Posted: 9/10/2010 1:21:51 PM EDT
I'll give whatever it is a shot.
Link Posted: 9/10/2010 1:24:47 PM EDT
[Last Edit: 9/10/2010 1:25:06 PM EDT by raysheen]
post up the question...Historically speaking, ARFCOM has been great at physics/math/engineering questions.
Link Posted: 9/10/2010 1:25:54 PM EDT
send me an IM too
Link Posted: 9/10/2010 1:28:07 PM EDT
Here's an amort calculator if that's what you need.

Link
Link Posted: 9/10/2010 1:38:23 PM EDT
[Last Edit: 9/10/2010 1:40:03 PM EDT by xwarp]
Originally Posted By F350PSD:
Here's an amort calculator if that's what you need.

Link


sweet!!!

thanks!

that may help me figure out what i was curious about.

in light of the apparent failure of the home loan mod programs from keeping people that really wanted to keep their homes, i wondering if there was a better way to deal with this issue.

the question i had, is, would have suspending the interest on a loan for say 5 years have worked?
Link Posted: 9/10/2010 1:51:52 PM EDT
Originally Posted By xwarp:
Originally Posted By F350PSD:
Here's an amort calculator if that's what you need.

Link


sweet!!!

thanks!

that may help me figure out what i was curious about.

in light of the apparent failure of the home loan mod programs from keeping people that really wanted to keep their homes, i wondering if there was a better way to deal with this issue.

the question i had, is, would have suspending the interest on a loan for say 5 years have worked?


Most of the people in trouble bought recently so their payments are mostly interest. It certainly would have cost them less but would they be able to even afford the modest principal?

Houses are still overpriced, and many are under water, some by a lot. The banks took on that risk. They need to either modify the balances to reflect current values or continue to suffer a high foreclosure rate.
Link Posted: 9/10/2010 3:05:09 PM EDT
[Last Edit: 9/10/2010 3:19:07 PM EDT by RedFalconBill]
Originally Posted By PaintItBlack:
Most of the people in trouble bought recently so their payments are mostly interest. It certainly would have cost them less but would they be able to even afford the modest principal?

Houses are still overpriced, and many are under water, some by a lot. The banks took on that risk. They need to either modify the balances to reflect current values or continue to suffer a high foreclosure rate.


Median Household income, as of 2nd Qtr 2010, was ~ $49,100.

Median Home Price, as of July, 2010, was $204,300.

A household income of $49,100 would point towards a house price of ~$160,000.

9.1 month supply of houses for sale.

There is more mortgage correction needed in the marketplace.
Link Posted: 9/10/2010 3:13:58 PM EDT
i will give your question a shot.
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