ARS MASS MUNI BONDS-advice needed

[davids]

I need some advice ....In reviewing my bond portfolio I now realize that I own some Mass Muni ARS(auction rate security) bonds. I was told that they are now illiquid . There are lots of articles on the web that are a year or so old, when these bonds started having problems. I am unable to get any good up-to-date advice. Does anyone have any financial insight into this market, and what the future holds for these ARS bonds? Any advice will be much appreciated. Thanks!

 

[Dare]

Find out if there's a buyback program for the ARSs. I held some Michigan ARSs, and the broker (Morgan Stanley) had a program where they offered to buy them back at par. I'm sure it was something MS did to avoid prosecution, but I was just glad to get out of them. But there was a deadline for the program, and after the deadline the offer to buy them back was over. So search fast just in case there is a similar offer for yours with a deadline. And actually, if there was a buyback for yours and you've missed it, I'd be fussing that I wasn't notified. I initially found out about the offer online, but then was notified in the mail also. I hope you're able to find something!