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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (113034)	3/27/2008 7:41:55 AM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

RE: RATE Yes I am still on the short side of that puppy. I they they just reported good earnings. I need to rethink my strategy there. On the one hand, you would think that they would be losing it on volume. Indeed lending standards have tightened. OTOH, with the federal government intent on personally and individually reworking every mortgage in America and making them all fair, there should be big business for RATE somehow. Perhaps you could just go to the RATE website and type in your social security number. RATE will go into the IRS database and pull all of your personal income info, and your mortgage lender from your 1099. RATE could then go to Zillow and get your neighborhood house price info. Then internally, RATE could figure out how much your house should have been worth, is worth today, what is just and reasonable for you to pay monthly and what the new loan amount will be. It will then contact your bank and inform it of the writedown it must take and its new expected cash flow from you loan. Oh. Then it can access the police database and send out a death squad to your lender for having had the affrontary to make you such an unjust loan at the outset. All joking aside, I can't imagine the labor involved in straightening all of this out as Roubini and Hillary think is prudent. It is and will be a huge mess. When the dust settles, there will be a huge investment of labor with nothing having been produced. More von Mises inefficiency.