Re: and ...
Posted by NJD on December 23, 2007 at 10:05:49:
In Reply to: Re: and ...
Posted by steele in minnesota on December 22, 2007 at 12:46:16:
"And why would there suddenly be any increase in lenders demanding cash at closing or requirng a borrower remain liable for debt after closing."
I've had several closings in the last month where the lenders demanded an unsecured note albeit with flexible/charitable terms, signed at closing.
In the discussions between government leaders, industry captains, and Wall Street financiers who are constructing the framework to mitigate their financial reversals... all agree the downturn is temporary (5 years?) but will eventually rebound.
Relief offered may be 'temporary' relief but borrowers may also be expected to someday repay...
These open ended obligations can also be 'securitized'
and monetized.....
That, Mr. Steele, is the industry buzz.
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