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bubblesitter
2011 Sep 13, 9:59am
Yeah,they should get the money out from those mortgages rather then laying off 30,000 employees and then put the money to work. Are the banksters stupid?
bmwman91
2011 Sep 13, 1:21pm
Well, one can only hope that this will unleash the "who can unload toxic assets sooner" game among the big banks. It seems unlikely, but it might happen.
zzyzzx
2011 Sep 14, 5:20am
Well, one can only hope that this will unleash the "who can unload toxic assets sooner" game among the big banks. It seems unlikely, but it might happen.
I agree!
Future Cash Buyer
2011 Sep 14, 6:01am
why are the banks afraid of turning REO's into rental properties to generate income? I think a lot of realtors, due to plummeting home sales, are willing to work as leasing agents and provide some kind of property management.
TMAC54
2011 Sep 24, 6:49am
why are the banks afraid of turning REO's into rental properties to generate income? I think a lot of realtors, due to plummeting home sales, are willing to work as leasing agents and provide some kind of property management.
Rent will not even cover the interest let alone operating costs to lease. In other words, the properties the banks are claiming are "UPSIDE DOWN" "OVER VALUED" "OVER LEVERAGED" and just "TOXIC". A taste of their own meds ?
Banks stopped Shared equity mortgages a couple years before the bubble burst and were quite open about them being too RISKY.
They saw this coming, yet taxpayers will pay for their NEGLIGENCE !
They should all seek other work !
http://www.cnbc.com/id/44503938
If so, this can be good for future price discovery purposes. Hopefully other banksters will start releasing their backlog too.
#housing