The top 4 banks are toast: BofA, Citi, Wells and JPMChase. I would get out of ALL of them ASAP!
In addition to Obama’s $1.5 billion mortgage restructuring fund is Obama’s consideration of a national moratorium on foreclosures and putting ALL delinquent loans into HAMP so the Obama thugs can pressure the banks into insane and unjustified loan modifications. Its getting THAT bad.
Look at this guy’s presentation of the housing and mortgage markets.
http://mason.gmu.edu/~asander7/
Its under “Update on Housing and Commercial Real Estate and Mortgage Markets”
Eeks! It makes it clear that this $1.5 billion and the foreclosure freeze will accomplish nothing but delaying the pain and adding a huge price to it! The banks are getting crushed and there is no easy way out.
getting out sounds good... but where do you put the cash?