Chart of The Day: BofA ARM reset schedule

This is the Bank of America monthly ARM reset schedule by sector. And by sector they mean how crappy your credit is, with subprime being the worst and usually the shortest time until your rate resets. The chart shows the reset schedule of all adjustable rate mortgages (ARMs) until the end of 2009. Now call me crazy but it looks like we still have a long way to go before it really starts to get ugly.

For All those who are preaching that the worst is behind us for foreclosures and real estate prices, this chart tells a very different story.