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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 442.03-2.6%4:00 PM EST
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To: Ilaine who wrote (30098)2/28/2008 11:10:14 PM
From: Maurice Winn  Read Replies (2) of 220045
 
CB, surely you tell your clients to discuss just what deal the mortgagees would accept.

Somebody will own the houses. In many cases, it might as well be the people who live there now. It would save the transaction costs, loss of income during the time the house is empty and the existing owners might be willing to stay there if there's enough incentive.

I suppose in many instances the people currently occupying the houses can't afford even the devalued price so lots should forfeit the house. But I guess maybe half of them could be the right people to live in the houses.

But maybe it's better to walk across the street and buy each other's houses at half price at mortgagee auctions using 100% loans from new lenders.

It's all very interesting.

Mqurice
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