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Post# of 869573
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DaJester

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DaJester

Re: Guido2 post# 801845

Tuesday, 10/22/2024 6:17:37 PM

Tuesday, October 22, 2024 6:17:37 PM

Post# of 869573
No flack, but I'd disagree on this one Guido. The difference is with Covid, it was seen as temporary and people could begin to get income/jobs back to cover the mortgage that they could afford before the pandemic. In 2008, there was no light at the end of the tunnel. The lower adjustable rate ARM were not possible to get back, so there was no path to resuming or affording the current or future mortgage payment. The jump in interest rate and/or balloon payments coming due could not have been solved with forbearance.
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