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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (48556)	9/4/2007 1:51:48 PM
From: loantech	Respond to of 78419

You mean how do you refinance if you are required to have MI? The piggy backs were structured to get the holder of the 1st in the clear and the 2nds sold to the highest bidder. Got rid of MI which is bad as now no protection insurance on a lot of these things. Car insurance saves the car owner, MI saves the bank holder on the 1st. It is all messed up. Lot of stories out there regrading what will happen. I KNOW one thing or maybe two. <G> The 100% financing is going away. I heard that both FNMA and FDMAC are cutting their 100% offerings with or without MI.Subprime offerings are being slashed. Stated income offerings are being slashed. All together this points to many less buyers being qualified. Less buyers means less demand means prices will go down. May take a few months. What will people do when they owe 300K on a 250K house they bought in 2005,2006 or early 2007?