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Technology Stocks : Semi Equipment Analysis

SOXX 328.78

+2.9%

Jan 9 4:00 PM EST

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To: Woody_Nickels who wrote (38153)	2/15/2008 9:57:29 AM
From: willcousa	Read Replies (3) of 95703

I have counseled some folks with interest only loans and they remain convinced that no lesser home will do for them and that the rising real estate market will provide them a great windfall in terms of equity. They live in Mill Valley CA with a great view of the mountains and the bay. I am an attorney with a real estate practice and I can tell you that a goodly percentage of failed loans at this point in time resulted from mortgage fraud. I am getting three to five fraud alerts a day to the tune of "don't close a transaction with these persons or a transaction involving this property". When the loan broker gets his fee up front and the lender can lay off the loan at a profit, selling it into a mortgage pool which has no recourse to him if the loan goes south what incentive does either of these parties have not to sign up every willing body they can? It is said that the street gangs have gotten into this in a very big way. If you can net $100,000 or more every time you do a deal it sure beats selling drugs.

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