TEMIDDEN VAN EEN TORNADO…

12 maart, 2010 | door MHAAGEN |

…is waar we ons momenteel bevinden.  Daarin is het altijd het kalmst.  Een tornado van schulden.  De échte Kredietcrisis of Kredietcrisis Bis kun je het ook noemen.  In volgend artikel van Energy & Capital wordt beschreven waarom ik en anderen zo bearish zijn : het gaat om de ontelbare hypotheken, leningen eigenlijk dus, waarvan de rente herzienbaar is.  Die komen binnenkort naar boven.  Let vooral op de grafiek en waar we ons nu bevinden…

Everyone — until now, that is — has proclaimed the worst part is over.

They couldn’t be more wrong.

In fact, this is just the beginning.

Here. Take a look:

As you can see, we’re currently in a relaxed phase.

The calm before the storm, if you will.

But starting right now — and going well into 2012 — the combination of option ARM resets with the Alt-A’s are about to hand us a $1.5 trillion catastrophe.

And unfortunately, it’s going to cause scores of businesses to shut down; thousands upon thousands of jobs will be slashed and several million more homeowners will be kicked to the streets!

All Thanks to One of the Riskiest, Most Devious Loans Ever Created:
The Option ARM

You see, with these tricky creations of modern banking, everyday people were approved for massive loans well beyond their means.

In the heyday of the housing bubble, you didn’t need a good job to get a palatial house — just a high credit score.

Literally, people making just $30,000 a year — with good credit — found themselves approved for “SPECIAL” loans topping $500,000.

Even scarier, they also had the option to virtually decide how much to pay on their loans every month. Many times the minimum payments going in wouldn’t even cover the interest accrued.

It was a design that seemed too good to be true — for almost five years. Then the problems really kick in…

As S&P puts it, the monthly payment goes up between month 48 and month 49 by 88%.

On a $500,000 loan:

Months 1 through 47 are astonishingly easy, with payments of just $1,665 a month.

But come month 48, unsuspecting homeowners — not even paying off the interest — are slammed with a minimum payment now of $2,070!

And the very next month, they’re slammed with even worse news: a minimum payment of $3,900!

Even if the people were 100% tax exempt (and never had to eat, drink, drive, or pay any other debts), the monthly rates alone once the resets kick in blow away a $30,000 salary.

And as you can see from the chart above, that major flood of resets from the housing bubble is going to hit us the worst starting this spring!

In fact, according to Business Week:

It’s the Perfect Recipe for the Greatest Bottleneck of Foreclosures in U.S. History
… and the Easiest, Fastest Gains You’ll Ever Make!

Before I come off as a greedy, heartless wretch, I want to make this clear…

I don’t want to see anyone else kicked to the streets, businesses shut down, markets suffering, or any more employee layoffs.

But the truth of the matter is this:

It’s going to happen.

And there’s nothing you or I can do about it. Homes are going to be foreclosed upon in absolute record numbers.

In fact, according to the research firm credited with being the first to warn about the subprime crisis…

It’s a move so historic, the lenders weren’t (and still are 

Everyone — until now, that is — has proclaimed the worst part is over.

They couldn’t be more wrong.

In fact, this is just the beginning.

Here. Take a look:

As you can see, we’re currently in a relaxed phase.

The calm before the storm, if you will.

But starting right now — and going well into 2012 — the combination of option ARM resets with the Alt-A’s are about to hand us a $1.5 trillion catastrophe.

And unfortunately, it’s going to cause scores of businesses to shut down; thousands upon thousands of jobs will be slashed and several million more homeowners will be kicked to the streets!

All Thanks to One of the Riskiest, Most Devious Loans Ever Created:
The Option ARM

You see, with these tricky creations of modern banking, everyday people were approved for massive loans well beyond their means.

In the heyday of the housing bubble, you didn’t need a good job to get a palatial house — just a high credit score.

Literally, people making just $30,000 a year — with good credit — found themselves approved for “SPECIAL” loans topping $500,000.

Even scarier, they also had the option to virtually decide how much to pay on their loans every month. Many times the minimum payments going in wouldn’t even cover the interest accrued.

It was a design that seemed too good to be true — for almost five years. Then the problems really kick in…

As S&P puts it, the monthly payment goes up between month 48 and month 49 by 88%.

On a $500,000 loan:

Months 1 through 47 are astonishingly easy, with payments of just $1,665 a month.

But come month 48, unsuspecting homeowners — not even paying off the interest — are slammed with a minimum payment now of $2,070!

And the very next month, they’re slammed with even worse news: a minimum payment of $3,900!

Even if the people were 100% tax exempt (and never had to eat, drink, drive, or pay any other debts), the monthly rates alone once the resets kick in blow away a $30,000 salary.

And as you can see from the chart above, that major flood of resets from the housing bubble is going to hit us the worst starting this spring!

In fact, according to Business Week:

It’s the Perfect Recipe for the Greatest Bottleneck of Foreclosures in U.S. History

Before I come off as a greedy, heartless wretch, I want to make this clear…

I don’t want to see anyone else kicked to the streets, businesses shut down, markets suffering, or any more employee layoffs.

But the truth of the matter is this:

It’s going to happen.

And there’s nothing you or I can do about it. Homes are going to be foreclosed upon in absolute record numbers.

In fact, according to the research firm credited with being the first to warn about the subprime crisis…

Wat vindt u van dit vooruitzicht ? Hecht u er waarde aan of gaat u gewoon door met business as usual…? Wij vernemen het graag !