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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (30420)3/26/2008 3:03:24 PM
From: Madharry  Read Replies (1) of 78671
 
in many states the first mortgages are limited to foreclosing on the collateral and selling it. there is no other recourse to the borrower. it is not the same as an usecured liablility. that is why making these loans without getting sufficient downpayment was stupid and the pmi lenders are not in good shape. I took some some profits in cfc and put the money into plg.to. I just dont believe the worst for the banks is over.
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