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| User Info | Can they stop the bubble from deflating?; entered at 2007-12-02 14:58:46 | |||
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Plaztiq Posts: 226 Registered: 2007-08-08 Bay Area, CA 
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The fine print (this is an ad): The rate is 6.375% with an APR of 6.463% with $1299 flat closing and no points up to $850,000. There was a blog post on the Cottage Economist on how banks make money on foreclosures: http://thecottageeconomist.com/your-fina.... I don't think that's the case this time, because that only works with appreciating values, but I can see them trying to manage this crisis but keeping people in their homes as long as possible, perhaps with the assumption that through some miracle home prices won't decline and will start to appreciate again. 2007-12-02 14:58:46
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