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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (33003)	5/15/2000 6:00:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 42523

Another thought - if homeowners start defaulting on their mortgages on a massive scale, first they'll default on credit card debt and second mortgages. If they then start defaulting on first mortgages, they'll be defaulting on FHA and VA loans, which are federally insured, as well as conventional loans, which aren't. In that case, Fannie Mae, et al, will have to get in line behind the others. But a scenario like that is about as likely as BK.<g> I wouldn't mind seeing that Ditech Funds guy go belly-up, if it gets him off TV.