Impac Mortgage Holdings (IMH)

[JoeBlack]

"I have both. And on more than 1 property. You are right as far as you go (which isn't very far). Yes, principal increases as interest decreases, over time. But it takes several years for it move substantially. But these loans are not the troubled ones. People who have been in their homes for several years, paid down their balance, had some equity when they bought, have more equity now, bought a house they could afford.

The problem loans are the recent ones, mostly 2/28 loans that were done in 2005 and 2006. Most everything they are paying on the house is already deductible.

Think it through. "

uw_dad_2005