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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.27

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Nov 21 4:00 PM EST

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To: TobagoJack who wrote (82329)	6/8/2012 6:02:54 PM
From: Snowshoe	Read Replies (2) of 218005

>>Burn the debt<< This is clever, and might work... Investors tout controversial "condemnation" for housing fix finance.yahoo.com NEW YORK (Reuters) - Here's a controversial but intriguing approach to the U.S. housing crisis: keep cash-strapped residents in their homes by condemning their mortgages. A mortgage firm backed by a number of prominent West Coast financiers is pushing local politicians in California and a handful of other states hardest hit by the housing crisis to use eminent domain to restructure mortgages that borrowers owe more money on than their homes are actually worth. San Francisco-based Mortgage Resolution Partners, in a presentation reviewed by Reuters, says condemning so-called underwater mortgages and taking them out of the hands of private lenders and bondholders is "the only practical way to modify mortgages on a large enough scale to solve the housing crisis."

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