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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Fannie/Freddie bailout question
  • Date: Sat, 13 Sep 2008 19:34:38 -0500


On Sep 13, 2008, at 7:17 PM, Clansgian AT wmconnect.com wrote:

So in the present debacle, it isn't necessary for jobs to disappear for vast
numbers of mortgages to be foreclosed.

As the inventory of REOs builds, banks will become amenable to holding payments at their original rate. Banks do not want massive foreclosures and they will work to avoid that condition.

A dangerous condition exists if mortgagors react negatively to the news that they are making payments on a loan that is greater than their home is worth. This is an example of the power of the sensationalist and negative media.





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