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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (29641)1/10/2008 7:41:43 PM
From: Madharry  Read Replies (1) of 78469
 
one of my concerns personally would be when you refinance that you find out who your servicer is going to be. If you are escrowing insurance and real estate taxes, you want to make sure that those are going to be paid in timely fashion. there are reports out there of people having problems and the finding out that their servicer failed to pay the insurance on time and that the policy lapsed. Maybe what BAC will do is on the other hand maybe another scenario is that they lend them $15 Billion and pick up a preferred controlling stake in the company as an equity kicker to their secured loan. that way they wont be on the hook for existing mortages until they work out. I certainly wouldnt count on current equity holders getting bailed out.
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