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Politics : Sioux Nation
DJT 14.53-1.8%Jan 23 9:30 AM EST
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To: Travis_Bickle who wrote (160477)2/12/2009 2:28:21 PM
From: cirrus  Read Replies (2) of 362594
 
To further complicate things... That's the understatement of the day. So how the hell does that get unwound? Three specific questions:

1) Suppose a borrower decides to pay pay off a mortgage early? Those various slices of the mortgage must somehow be reassembled and adjusted for the early payoff, right?

2) If #1 is true, and an early payoff is relatively easy to unwind, it should be easy enough to unwind these packages and restore some logic and sanity to the mortgage mess, perhaps by the government taking over whole mortgages?

3) When a mortgage is sliced and diced like that, who has the authority to make modifications to interest rates or partial write-offs that might reduce foreclosures? If the issuer doesn't have the authority because so many have part of the mortgage, who, then has the legal authority to order a foreclosure action in the first place?

Thanks.
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