Jim Devine writes: >> this result is quite wimpy. What's needed is something more radical: >> they should get rid of securitized mortgages (long the creation of F & >> F) altogether, so that the lenders have to take responsibility for >> the possibility that the borrowers will go broke rather than having it >> bundled up and obscured from public scrutiny in a mortgage-backed >> security. While we're at it, all existing mortgages should be replaced >> by the simplest possible fixed rates ones. Then, the bankers and >> finance companies can do what they do best (according to free-market >> theory): compete over prices (here, interest rates) with none of those >> complications which confuse and befuddle borrowers.
^^^^^^^^ CB: Is it true that most mortgagors don't payoff their mortgages before they die ? _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
