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To: Ilaine who wrote (59300)	1/18/2001 2:00:09 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Coby: Excellent explanation of a complex situation. I realize that the "home owner" remains on the hook,.... at least on paper. But as you point out, the banks may have reasons not to pursue the matter too strenuously. (g) Looking into the future a bit and painting a bit of rain into the picture, it doesn't take much to see plenty of empty residences. I recall the Gulf coast when the oil market tanked, etc. My reason for noting this scenario is primarily to underline the bank's lack of collateral coverage (and hence massive risk). Best, Earlie