Whats in a name?
November 2, 2007 by Gordon Corsie · Leave a Comment
What have we learned about this business?
The loan business is kinda slippery. Remember negative amortization loans? In the 1980s buyers hated those and would not touch them as since the lower monthly payments involved with them actually were insufficient to amortise the mortgage. As a result these loans became unpopular.
Fast forward 20 years and now lets introduce the neg am loan and call it…the Option Arm!
Buyers like this name, gives them the option to pay after all…..
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