jackh

Thoughts on the Housing Bill

The way I understand it is that the lender has to write down the value of the loan (take a loss) and set up a deal that the borrower can afford.

So.... you have a house which may still be valued at more then or near fair market and a borrower who has committed every cent he has and is likely to earn to hold onto it........

Recession, rising unemployment, why do I feel the next wave of defaults has just been delayed a few weeks.....