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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Earlie who wrote (36800)9/9/2005 12:16:14 PM
From: Mike da bear  Read Replies (1) of 116555
 
RE "I wonder when those two pyramid schemes will mention what they intend to do with about-to-become "non-performing" mortgages created by Katrina? (g)"

That's the goal... these can't become "non-performing" if they're in forebearance since payment wouldn't be deliquint. Maybe we can extend the forbearance for several years. Maybe we can expand it to other "disaster areas"... where the term disaster will be expanded (economically depressed areas maybe?). Once this stuff start there's no tell how big it grows.
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