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De facto jubilee?

I thought I'd reflect something interesting that has come up on Gonzalo Lira's blog, which is likely to make things even worse for mortgage investors than they were before.  Much worse, if the letter...

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Re: De facto jubilee?

Unfortunately, I think the notion of a de facto jubilee in this case is wildly optimistic. Barring a miracle: the already foreclosed on will not get their houses back, those still in their houses are...

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Re: De facto jubilee?

2handband wrote:Unfortunately, I think the notion of a de facto jubilee in this case is wildly optimistic.I did say, "if the letter of the law stands".  It's possible some law might be passed to...

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Re: De facto jubilee?

I hope you're right, but the following article sums up what I think is most likely to happen: http://www.cnbc.com/id/39686897

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