04-05-2007, 04:35 AM
Lew, the lending institutions are not interested in real estate holdings, especially not when the values are maybe less than the loan amounts. Most people don't want to be foreclosed on either so it is a win-win situation for both parties. I fully expect the lending institutions to work with the borrowers and rewrite those loans. I don't expect to see a flood of foreclosures.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties