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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?


To: Jorj X Mckie who wrote (16946)2/28/2002 8:00:43 PM
From: Alan Smithee  Respond to of 23786
 
The scary question is, what happens when the value of peoples' homes goes under what they owe in first and second mortgages? That's the scenario where people start to decide it's easier to walk away from the home and let it go into foreclosure than to continue to pay the high mortgage payment.

I know a stock borker who that happened to in Houston in the early 90's.

I note that Ditech.com continues to shill second mortgages on CNBC.