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Monday, July 16, 2007 4:44:27 PM
Problem, they cannot refinance from under those bad loans..
The other problem, example, a $500,000 dollar home that sold last month, cannot be sold for that price this month, that new homeowner is now upside down in his or her home...
In other words, he or she cannot sell to get out of his investment.....
Homes in my neighborhood have house (Bank) sitters, they will not sell, Banks are going to take a bath, a blood bath....
chevy56
Some one break out the marshmellows.
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