Wheatie explained to me about them bundleing up groups of 100+ or so loans and blending the rate/spred on all of them as a package deal for investors/banks I didnt understand that they could do that because when loans are done they have to meet guidlines and how could so many people be in this situation,there must have been more risky loans than not so risky i would hate to have my good loan in with all of them riskyer loans but i still think that there is an angle some where maybe some banks and lenders will merge together to straigthen the situation and have most loans underwriten at one location or go thru a loan review so that they can get back on track the banks need more supervision these are big assets were talking about this kind of thing probably wont happen for a long time to come after this is in the past in 2009 or 2010 or so many people will need to come in with closing costs to refi if they want to save there homes cant they just raise the value to absorb this or is it that sombody has to lose i guess thats life hopefully many have learned from this if they realy wont this to end then they should educate the young people so that they dont get into a situation like this but they wont by the time they buy this will have already past,mortgages take along time to pay off for the average joe and people keep homes for a long time so its hard to avoid times like these if you own for along time eventualy your going to refi and you dont know if this will happen to you at that time my advice to them is dont put to much money into the house home improvment etc and keep your reserves in case you have to bail out that means no spending of any kind what a way to live a life it sounds like a constant struggel to save and never realy nowing if its goin to happen to you at the last moment if values drop good topic and thanks everyone.
