Since the beginning of 2007, banks and securities firms have written off $146 billion.
About $550 billion of subprime loans will reset before 2009.
What else is out there? Does anybody know?
2 comments:
Anonymous
said...
Around 13 percent of subprime is defaulting. Assuming 13 percent of 2008 resets go bad, that would take out $70 billion. I know these things are not directly comparable, but that is about half of the bush fiscal stimulus.
To save money, use term life insurance to insure your mortgage. Not only is term life insurance cheaper than bank mortgage insurance, but it gives you the advantage of naming the beneficiary. You also have the choice of choosing a term life policy that converts into whole life insurance once the term is completed without having to reapply for coverage. Talk to a licensed broker as well as comparing term life insurance quotes online for the best rates.
2 comments:
Around 13 percent of subprime is defaulting. Assuming 13 percent of 2008 resets go bad, that would take out $70 billion. I know these things are not directly comparable, but that is about half of the bush fiscal stimulus.
To save money, use term life insurance to insure your mortgage. Not only is term life insurance cheaper than bank mortgage insurance, but it gives you the advantage of naming the beneficiary. You also have the choice of choosing a term life policy that converts into whole life insurance once the term is completed without having to reapply for coverage. Talk to a licensed broker as well as comparing term life insurance quotes online for the best rates.
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