Comments on: Prime and Alt-A Mortgage Product Types http://blownmortgage.com/2007/03/14/prime-and-alt-a-mortgage-product-types/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Chuck http://blownmortgage.com/2007/03/14/prime-and-alt-a-mortgage-product-types/comment-page-1/#comment-15 Chuck Mon, 19 Mar 2007 12:42:09 +0000 http://blownmortgage.dreamhosters.com/?p=65#comment-15 "For Prime borrowers a full 50% of the loans originated were either "exotic" mortgages (interest only or pay-option neg-am ARMs) or 2nd mortgages." From what I understand, for many Prime borrowers with these loans, the "teaser" payment is 35% - 50% of take-home pay. The results at reset are obvious. It seems 'Prime' doesn't mean much. “For Prime borrowers a full 50% of the loans originated were either “exotic” mortgages (interest only or pay-option neg-am ARMs) or 2nd mortgages.”

From what I understand, for many Prime borrowers with these loans, the “teaser” payment is 35% – 50% of take-home pay.

The results at reset are obvious.

It seems ‘Prime’ doesn’t mean much.

]]>