It’s a small number, I’d guess less than 2%, of all the mortgages out there that are even affected.
Hardly a bane.
Actually less, about 1.0 - 1.25% of all US based mortgages are affected by the ‘subprime meltdown’. I don’t understand what’s the big deal about. Even though there’s no public funds involved, and it’s a voluntary program by the lenders who figure they’re better off doing an en-masse refinance than an en-masse foreclosure, somehow this is a ‘bailout’, and ‘catstrophe’ and ‘buy gold run for the hills’ and ‘meltdown’.
I think everyone is collectively hyperventilating. Everyone (inlcuding the govm’t) should get a brown bag, breathe some CO2 for a bit and chill out. Reduce global warming or something...