As if the last year was not tumultous enough. It’s Summer of 2009, with at least a few pundits who cover Wall Street  hinting that the worst of the recession is over, stocks are off recent lows, so we have reason for optimism, right? After all, we have weathered most of the subprime debacle, at least for the time being. But what about the prime mortgages that are currently defaulting  at a faster rate than the subprime loans did previously? Remember the 5-1 ARMs that were very popular  just a few years ago? well, there is going to be another wave of resets/recasts which could last until 2012. You can read more here 

Is this Option ARM-Ageddon?  more defaults, means more foreclosures, which increases an already bloated housing inventory we currently have on the Westside of Los Angeles. How much more can this market bear?