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adjustable rate mortgage may lead to 2008 again

Adjustable Rate Mortgages – 2008 All Over again?

by | Jun 27, 2022 | Real Estate Realities Podcast/Vidcast | 0 comments

Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:Jun 27, 2022

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Currently, Robert uses his local market knowledge to help clients from San Jose to Morgan Hill, San Martin and Gilroy.

Follow along as we explore where the adjustable rate mortgage might just lead us!

Adjustable Rate Mortgage.

Buying homes at their peak price, with an ARM while the fed is raising rates. Any thoughts on how badly this might end?

Home prices are dropping in many markets.

Depending on how much was put down, some owners could be upside down within the next year.

If buyers only put down 3.5%, they could find themselves very upside down on the mortgage. So even if they did decide to sell before their adjustable rate mortgage adjusts, they would have to do so at a loss.

What to do about it.

As usual, I like to finish off my shows with suggestions for buyers, sellers and investors. Check out todays show for my thoughts.

Check Out The Last Show!

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Bankruptcies Up 216%

Business bankruptcies up 216% and we are not even half way through 2023 yet! What does this mean for unemployment and the world of real estate?

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