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The market waits for solutions of the banks for the crisis in USA

economiajoven.net — This next week will begin to be published the first results of the third quarter of 2007 of the North American banks - closed August 31 - included of someone of the entities more affected by the financial crisis and of the business 'suboccupy first place' or of mortgages of high risk, and the market remains attentive not only to the condition

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  • homeowner, on 10/10/2007, -0/+0What I propose is that the note holders extend the fixed rate term of the note for 5 years or so until the market is better and then adjust or refinance the homes to a fixed rate. They will loose the interest that they may have made if the note adjusted and the people who owe on the note keep paying there payment. However, if the people on the note just rent a home before there credit gets bad and move out and send the keys to the bank who is servicing the loan. The note holder will loose a lot of money when this happens. They still have to foreclose on the house and then they have to sell the house in a very down market. This is happening all over the United States Today.
    This scenario could all be stopped by extending the current payment arrangements until the market picks up enough for the people to refi their house or the income goes up enough to pay the adjustable after it adjusts. The note holder would earn the current interest on their money and not have to reposes the house in a market where so many homes are being repossessed and cannot be sold. This would bail out both the buyer and the note holder from a bad situation. The second note holders are the ones that will be hurt most but the first holders are not in that great of shape given how the prices are going down in some parts of the country. A piece of something is better than 100% of nothing.

    I think this is a good proposal however I have no idea how to pitch it, and whom can I pitch this idea. I would go to the banks but most of the banks that you pay your payment to only service the loans they do not own the loans. Does anybody know where I can go to spread my idea so the it will be taken under consideration? I have talked to a few people in the mortgage market industry and they think it is a good idea. Can someone help me? I can be contacted by e-mail at astrial@earthlink.net.

    Thank you for any and all help.

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