crazy folks..In America we don't like to bail out average folks. We prefer to bail out big banks and corporations. The one good thing about the glut of abandoned, foreclosed, and unsold inventory of new homes, is that the next wave of illegal immigrants will have a nice choice of places to squat in.
http://www.bloomberg.com/apps/news?pid=20601170&sid=a21ui1oYB5TA&refer=home M&T, Buffett Holding, Says Alt-A Loans Hurt Profits --RS
Sorry, I don't fully understand? If you're asking if I have an inside contact, no. CTX just sold off one of their construction divisions. I think there's more trouble looming: http://biz.yahoo.com/prnews/070402/dam006.html?.v=82
What happens if the borrower is broke and can't pay the IRS the taxes on the amount of debt forgiven? Most of the time, people who end up in foreclosure are broke, otherwise wouldn't they just keep paying their mortgage.