Posts Tagged ‘mortgage market’

Ah, nothing like sitting down with a cup of tea and reading the morning news.  And if you follow the financial sector, it continues to be bad news after bad news after bad.  This morning’s shocker was the spectacular failure of WAMU.   I just recently wrote about WAMU a few weeks ago.    They offered me a loan modification that I gratefully took.  Maybe it was a desperate move on their part (although I still think it worked out well for them).

This opens up some speculation.  Since I’m not in a strong position to weather this crisis forever, could my lenders become more pliable in the future?  Maybe I should monitor their health and swoop in in their waning days and offer to keep paying the loan, on my terms.  With the way things are going, with so many walking away from their houses, people who are actually paying their mortgages could have negotiating power.   Now or in the future.

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