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

To: Les H who wrote (165099)11/18/2008 4:57:52 PM
From: MulhollandDriveRead Replies (1) | Respond to of 306849
 
ah...

so now it's confirmed, lest there be any doubt

'no good deed goes unpunished'

One head of a mortgage servicer told me problem loans could rise to over 70 per cent from 35 per cent once people realise they can easily get more favourable terms on their mortgages. This spells huge losses for mortgage-backed securities.

what a clusterf%ck of unintended consequences and moral hazard



To: Les H who wrote (165099)11/18/2008 7:52:17 PM
From: Bank Holding CompanyRespond to of 306849
 
> Unintended consequences: mortgages that have been securitised<<

Imagine having your loan 'modified' and then years later another company declares you in default and forecloses ...


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