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View Diary: Indymac Bancorp trading halted (mortgage disaster) (59 comments)

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  •  get free of Countrywide if you can (0+ / 0-)

    Countrywide/BofA is another train wreck and you should get clear if you can get a loan somewhere else.

    I suspect we're going to see a lot of dollar houses as municipalities take over - move right in, so long as you pay the assessed tax. This will come about as disintegrating lenders fail to pay taxes and such. The sad thing is it won't happen for the existing home owners in situ, making an awful mess of things as it comes to pass. We could all get up, pack up, move next door, and tell our mortgage holders to screw off - this is going to be the net effect, but a lot of honest and/or incautious folks will be the ones getting hurt.

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