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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Riskmgmt who wrote (89273)11/29/2007 4:22:31 PM
From: John Vosilla  Read Replies (1) of 110194
 
'Even in a bad market to pay 27% of the face value is some discount and it's on Mortgages not the property, so they only need 27% to pay as agreed to break even.'

I'm sure those asset backed securities were highly leveraged.. At 5 to 1 a 20% drop in property values in essence wipes you out if you need to collect<g>..
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