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To: Crimson Ghost who wrote (68398)	9/1/2007 1:56:57 PM
From: 10K a day	Respond to of 116555

>Forget that the Bush Administration is offering a bailout plan even after he said they would do nothing last week< And this surprises anyone??

To: Crimson Ghost who wrote (68398)	9/2/2007 6:36:59 PM
From: koan	Read Replies (1) \| Respond to of 116555

Excellent post ghost! I sell real estate. What few people understand is that it is near impossible to lower monthly payments because an interest only loan is only a few bucks below a 30 year loan, per month. So your article hit the nail on the head. People do not make enough money fro these high prices. The ONLY thing that could help would be refinancing at lower interest rates and that is not going to happen. Looking at our real estate market which is mostly owner occupied and did not rise nearly so high, still we lose 1/2 of all borrowers at over just $150,000 ; and my guess is that we are above average in incomes. $150,000 is only buys you a 2 bedrm 768 sq ft condominum. And there are only a few of those.