 Quote:
Originally Posted by tryan
Is there a better link than this:
Banks, U.S. near deal on mortgages - Mortgage mess - MSNBC.com
Nothing in there about bank-welfare ... seems to me that would be impossible to implement since the notes have been packaged and resold a handful of times ... bonds should have been discounted by now. Horse is out of the barn ... it seems.
Freezing the rates would only prolong the inevitable ... I'll take the quick death; where's there's choas there is opportunity!! But wait, a slow death would give me more time to position ... hmmmm. |
The bonds are definately discounted, and then some. But that's not the point of modifications. Its to keep more loans from going bad and keep the housing downturn from becoming even more severe.
I think that the housing market will be messy enough that there will be bargains aplenty for all interested parties. I'd prefer that there actually be enough solvent banks left to lend me money against all those low priced properties when it comes time to buy.
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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