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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: James Hutton who wrote (184556)2/17/2009 11:57:33 PM
From: The ReaperRead Replies (2) of 306849
 
If their plan calls for modification of the mortgages (as in reduction of principal with the difference to be paid on the sale of the house) then they won't need to keep mortgage rates down to get the reduction in monthly payments that they are after. If they can get the banks to reduce the principal with a subsidy from the govt. it's off to the races with TBT. In fact, that might be the preferred method. It would allow banks to borrow short at virtually 0% and loan long at higher rates.
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