Massive mortgage resets for 2010 & 2011 are near!

Okay, 2008’s biggest month of mortgage resets were in Sept 2008; $64 billion in mortgages reset that month, and the monthly average was $40 billion for 2008. For 2010, August is the biggest month with $97 billion in mortgage resets, and the 2010 monthly reset average is $83 billion – DOUBLE THE AMOUNT OF MORTGAGE RESETS FOR 2008!!!

FRIGHTENING NUMBERS BELOW

Mortage resets for 2010; billions per month

Jan Feb Mar
Agency $6 $7 $6
Prime $9 $10 $11
Alt-A $12 $13 $15
Sub $13 $14 $16
Option $16 $18 $23
Total $56 $62 $71

Apr May Jun
Agency $8 $9 $9
Prime $12 $14 $15
Alt-A $16 $19 $21
Sub $17 $20 $22
Option $24 $26 $29
Total $77 $88 $96

Aug Jul Sep
Agency $10 $9 $10
Prime $14 $14 $15
Alt-A $20 $19 $20
Sub $21 $20 $23
Option $32 $27 $29
Total $97 $89 $97

Oct Nov Dec
Agency $10 $11 $10
Prime $15 $14 $13
Alt-A $20 $19 $18
Sub $23 $22 $21
Option $28 $28 $27
Total $96 $94 $89