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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (25836)	11/29/2007 6:48:34 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 218133

That's not many: <streamline the loan-workout process and extend for at least several years the initial mortgage rates for struggling subprime borrowers. With some 500,000 loans scheduled to reset in the state over the next two years, California officials say the changes could help some 100,000 homeowners. > There must be millions of houses in California. Here it is: quickfacts.census.gov 12 million housing units and 36 million people. So if 500,000 loans are reset and they all go broke, that's only 1 house in 20. That's not a big deal. Is the whole housing panic just a fizzer? Mqurice

To: elmatador who wrote (25836)	11/30/2007 1:10:13 PM
From: Ilaine	Read Replies (1) \| Respond to of 218133

I am seeing lenders being more aggressive with workouts. One client is being bombarded with phone calls and letters from Bank of America trying to reinstate a loan on a house upon which we alread consented to an order to lift stay. Another has ReMax aggressively trying to get them into a short sale rather than bankruptcy. This just started happening this past week or so. I believe it's an attempt to keep Congress from rewriting the bankruptcy laws to make them more favorable for homeowners.