>
>Unfortunately it's getting worse. Used to be I could feel
>comfortable telling homeowners that the bank would prefer to keep the
>loan, but no more. I now have loss mit telling me that the
>'investors' will only allow such and such plan (which the homeowner
>inevitably cannot do). I have a source who tells me investors are
>trying to liquidate everything. So foreclosure rates go up 9% in a
>month.
>
Shoeshine anecdote:
Just got back from family camp. Deal up near Yosemite with U.C. alumni. Mixture of stock brokers, doctors, lawyers, etc. I'm in line at the lanyard shack. Yup. In front of me are a few ten-year old boys. They're talking about their dirt bikes, toppled over to our left and right.
Boy1. "I gotta take care of my bike. If anything happens, I have to buy a new one."
Boy 2. "Your parents make you buy your own bike?"
Boy 1. "Money's bad. My dad is in real estate? Haven't you heard? It's a nuclear meltdown out there."
Joanna