To: kenavi
“Either a mortgage is delinquent, or it isn’t.”
I wish it were that simple. It is not. These mortgages are bundled and sold and resold and backed by CDSs. It is a good idea to learn more about the problem before coming up with a solution!!
47 posted on
09/26/2008 10:26:23 AM PDT by
Sunnyflorida
(Unless you are nice and thoughtful you will be ignored. Write in Thomas Sowell.)
To: Sunnyflorida
Securitizations are over-collateralized, that is they are sold at a discount to the principal amount. Either the cash flow from a security is covering its debt service or it isn't.
Next time don't be so churlish.
48 posted on
09/26/2008 10:31:28 AM PDT by
kenavi
(BHO: The only constant is change.)
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