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To: Perspective who wrote (59211)	1/18/2001 11:39:21 AM
From: Mike M2	Respond to of 436258

Bobcor, we should also note that Euroland does not have the consumer credit excesses of the US. mike

To: Perspective who wrote (59211)	1/18/2001 12:22:48 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

BC: I wonder what may happen when the guy who took out that "125% of current assessed valuation" mortgage gets laid off? Does he leave the keys in the mailbox or does he mail them to the bank? And when the bank tries to flog the property into an already glutted (from similar situations) R.E. market, what does it do when the property finally sells for a fraction of that previous "assessed valuation"? Of course the banks and mortgage outfits all carry "insurance" for these sorts of contingencies. (g) Hello Fannie and Freddy. (g) Best, Earlie