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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: tejek who wrote (173346)12/24/2008 2:41:43 AM
From: Skeeter BugRead Replies (2) of 306849
 
the banks and government are also trying to convert these no recourse loans into modified recourse loans - the new owner of that modified loan will be on the hook for the lost equity FOR THE REST OF THEIR LIVES. they won't be able to just walk away and be free of the home.

under these circumstances, only a fool would sign up for this version of fiscal slavery, imho. there are exceptions, but they will be few and far between.
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