Freezing in NH

Banks May Rescue Defaulting Homeowners is a guest post on Five Cent Nickel.  The premise of the post is basically that banks are rewriting loans to borrowers at risk of default not to help the borrowers but to cover their own mistakes.

I think that banks are going to have to take their lumps on some of the houses, but it’s possible that letting borrowers with either equity or stable employment re-write their loans (for longer terms or different payments) might help stabilize some of the “shock” that housing prices are feeling.  Flooding the market with houses that don’t sell isn’t really helpful to anyone. 

This entry was posted on Thursday, June 28th, 2007 at 5:18 pm and is filed under articles, real estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.