On Thu, Sep 25, 2008 at 6:56 AM, Remi Cornwall <[EMAIL PROTECTED]> wrote:
> No more interest only mortgages You might be "interested" to know that the interest only loans originated in the UK in the 80s. AAMOF my wife, a home mortgage underwriter, actually refers to them as a LIBOR, which is actually the acronym for London Interbank Offered Rate. So, the US actually copied the UK on these instruments. But we have created our own nooses. One of the deadly ones was "stated income". And the 100% LTVs. Terry
