The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: gregor_us who wrote (26397)	1/24/2010 12:09:49 PM
From: zebra4o1	Read Replies (1) of 71475

Gregor - Debt Jubilee. Do you still read Grant's? Was blown away to read in this issue about a company making money (or trying to) by drastically reducing loan balances on underwater defaulting mortgages. They buy a distressed MBS at 15 cents on the dollar, then negotiate with individual home owners to cut their loan balance enough to give them positive equity. With much lower payments and positive equity, the loans become performing, and are then worth more than 15 cents on the dollar. Don't know if it is me or Grant, but aside from this current issue, I am not getting much out of him the past six months.

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