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Once the banks forecloses they hold the paper.... that is when they have
auctions where you can get the good buys...
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, November 09, 2001 10:26 AM
Subject: Re: [RT] Debt
> Banks aren't holding tons of paper as in the last bust, the paper has been
> sold into the secondary debt market via the GSM's. Further, since banks
> don't hold the paper and make money on origination and servicing, they
have
> no incentive to do anything but push appraisers to furnish the valuation
> required to make the loan. Foxes are truly watching the hen house and the
> holders of GSM's are going to be the ones to take the pipe. Of course with
> implicit government guarantees the taxpayer is once again not out of the
> loop.
>
> Earl
>
> ----- Original Message -----
> From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, November 09, 2001 8:17 AM
> Subject: Re: [RT] Debt
>
>
> > Add to that the appraisers who figured out how to inflate the appraisal
so
> > the homeowner did not have to pay points.. so when the value of the home
> > goes below the mortgage... the yuppies walk away and the bank owns
> > them..... thats when you sit back and wait for the bank auctions........
> > they will come............... save your $$$$ homes will be avail for
> 40%
> > of today's value by yr 2005-2006
> > ----- Original Message -----
> > From: "Ira Tunik" <irat@xxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, November 09, 2001 9:57 AM
> > Subject: Re: [RT] Debt
> >
> >
> > > The real-estate cycle is about every ten years. There was a bust in
the
> > 60s, the
> > > 70s and the 80s. Now maybe in the 2002s. The thing is that prices
never
> > go down
> > > to were they were in the last cycle. Inflation takes care of that
along
> > with
> > > 125% home loans. Are there any S&Ls left to go broke or does the Fed
> > ultimately
> > > hold all the paper once again? Oh! I almost forgot about all those
> > mortgage
> > > backed securities that the brokerage firms foisted upon the public
once
> > again.
> > >
> > > Dorothy Carter wrote:
> > >
> > > > cycles have to play out... you can't trick them to speed up... it's
> like
> > > > asking a tulip to push through snow in order to bloom....... These
> > larger
> > > > cycles were in play before Bush became Pres. and prior to
911.......
> > with
> > > > large layoffs.. banks end up owning a lot of realestate.... in a
few
> > yrs..
> > > > auctions at banks will be good fire sales...... have experienced
this
> > cycle
> > > > before in Alaska back in early 80s.......... Now the post office
bail
> > out
> > > > will be as costly as the airline bailout.... DEBT DEBT DEBT.. one
> > small
> > > > check from Uncle Sam won't last 1 month in the hands of those who
need
> > it.
> > > > ----- Original Message -----
> > > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Friday, November 09, 2001 6:33 AM
> > > > Subject: Re: [RT] Debt
> > > >
> > > > > I read within the past few days that only 20% of the tax rebates
> were
> > > > spent,
> > > > > the rest went into savings and debt paydown. I suppose that if the
> > next
> > > > > package goes to those who have to spend it there will be spending
> but
> > > > > otherwise, from the standpoint of economic stimulus, looks like
> > another
> > > > > waste of the surplus.
> > > > >
> > > > > Earl
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Thursday, November 08, 2001 4:17 PM
> > > > > Subject: Re: [RT] Debt
> > > > >
> > > > >
> > > > > > corp name...... and the corp calendar to float more debt
> > continues...
> > > > then
> > > > > > there is the consumer....... DEBT... DEBT .... DEBT......It not
> > just
> > > > the
> > > > >
> > > > >
> > > > >
> > > > > To unsubscribe from this group, send an email to:
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> > > > >
> > > > >
> > > > >
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> > > >
> > > >
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> > >
> > >
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> > >
> > >
> > >
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> >
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> >
> >
> >
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> >
> >
>
>
>
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