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To: flatsville who wrote (91339)	4/7/2001 9:45:12 AM
From: Ilaine	Respond to of 436258

Just to make it clear, I am talking about loans which are owned by Fannie Mae and Freddie Mac and guaranteed by HUD. The banks don't own the loans, they sold them to the federal government, which also guarantees them. Those are the loans I am talking about. And I am not talking about what happens now, when times are good, I am talking about what the government is likely to do in a housing bust. The reason I think this is because I saw what happened during the last housing bust. I had several clients who were unable to pay their notes on time and I would contact the government agency that held the loan and was always - always - able to work something out. They did not want to add the house to their inventory because no one was buying what they already had.