Short Housing

I read an article that Fannie Mae is creating a new mortgage product called a Stay Home mortgage where if you lose your job you can skip 6 payments and have it rolled into your loan.

Is this not a clue or what?
 
With the Stay Home deal. If a husband lost his job would you get 6 months, then if the wife lost her job 6 months later, would you get an additional 6 months?

Think of the possibilities....... :D
 
The Stay Home mortgage idea sounds like just the sort of idiocy that has kept the Japanese economy in dumps. "Its not a non-performing loan, its a source of increased future revenues." This is especially scary since you KNOW that many people are rushing to buy or re-fi while they still have a job. A product like this will only further encourage people who are about to lose their job to try and get a mortgage.

-Traden4Alpha
 
That PMI topped two months ago and this all with recent record home sales. Somebody must see something bad coming?
 
From that chart, do you get the feeling somebody sees default risk rising in the near future?

Come on 10% rates........
Daddy needs a home at 50% off the current inflated prices....

Later,

Cracked
 
If you could get short in the 18.20-18.40 area and risk to ~19.40 you would have the potential to get down to 15-16 range. Pretty steep downward channel from the high in June.

If that fits your risk profile (~2.5:1) then, bombs away.

Just my thoughts. My opinion and a dollar gets me Coffee....

Later,

Cracked
 
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