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The
also have time limits and have to increase reserves the long it stays on
thier books
<FONT face=Tahoma
size=2>-----Original Message-----From: Dorothy Carter
[mailto:dorothy.carter@xxxxxxxx]Sent: Friday, November 09, 2001
11:05 AMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
DebtTalking to bankers in Anchorage Alaska back
in mid 80's.. they would setminimum bids and from there it was
highest bidder wins...as they were not inbusiness to be property
managers... competes with local business that dobusiness with them... not
a good idea..... and would guess there are lawsand guidelines that govern
what banks do and can't do and how long they cancarry before they have to
auction off.... Guess we'll just have to wait
andsee............. :-)----- Original Message
-----From: "Ira Tunik" <irat@xxxxxxxxx>To:
<realtraders@xxxxxxxxxxxxxxx>Sent: Friday, November 09, 2001 10:53
AMSubject: Re: [RT] Debt> All I can tell you is what I saw
happen in the 60s and 70s. Now thingscould be>
different. S&Ls and banks at that time set up separate real
estatedivisions> and they held the properties and managed
them. Yes there were auctionsalso.> That took place when the
lender could get the price for his mortgageamount.> The problem was
with the 125% and 150% loan values that took place at that> time.
what about the home equity loans that exceed the current
homevalue.> Many homes are worth far less then loan
amounts.>> Dorothy Carter wrote:>> > I can only
tell you what I have seen.... it depends on how deep the> >
recession/depression is.. in the current environ where there are
massive> > layoffs I'd guess the banks can only hold and rent
so much..........During> > the 80's the banks in Alaska had
auctions.... I would imagine this willbe> > the case in the
future.. the banks don't go bust.. they have insuranceand>
> they peddle the property..so they don't have to play
"propertymanager".. I> > would guess that laws that banks adhere
to don't indicate they are inthe> > business of being property
managers for long periods of times....I'dguess> > there are some
timelines on how long they can hold paper.. ANY EXBANKERS>
> out there that can clarify this discussion?> > ----- Original
Message -----> > From: "Ira Tunik" <irat@xxxxxxxxx>>
> To: <realtraders@xxxxxxxxxxxxxxx>> > Sent: Friday,
November 09, 2001 10:36 AM> > Subject: Re: [RT] Debt>
>> > > Don't bet on that. The banks have been known to
rent homes for years> > until they> > > could sell them
for more then the paper on them. In fact in the 60sS&Ls>
> turned> > > many of the abandoned apartment buildings into
Wh--e Houses and soldthem> > > several years later. The
gov. can't afford to have the banks go bust.> > They> >
> saved them several times from bad foriegn loans, and they will
bailthem> > out> > > again at tax payers
expense.> > >> > > "Dorothy K. Carter"
wrote:> > >> > > > Add to that the appraisers who
figured out how to inflate theappraisal> > so> > >
> the homeowner did not have to pay points.. so when the value of
thehome> > > > goes below the mortgage... the
yuppies walk away and the bank owns> > > > them..... thats
when you sit back and wait for the bankauctions........> > >
> they will come............... save your $$$$
homes will be availfor> > 40%> > > > of
today's value by yr 2005-2006> > > > ----- Original Message
-----> > > > From: "Ira Tunik" <irat@xxxxxxxxx>>
> > > To: <realtraders@xxxxxxxxxxxxxxx>> > > >
Sent: Friday, November 09, 2001 9:57 AM> > > > Subject: Re:
[RT] Debt> > > >> > > > > The real-estate
cycle is about every ten years. There was a bustin> >
the> > > > 60s, the> > > > > 70s and the
80s. Now maybe in the 2002s. The thing is that prices> >
never> > > > go down> > > > > to were they
were in the last cycle. Inflation takes care of that> >
along> > > > with> > > > > 125% home
loans. Are there any S&Ls left to go broke or does
theFed> > > > ultimately> > > > > hold
all the paper once again? Oh! I almost forgot about allthose>
> > > mortgage> > > > > backed securities that the
brokerage firms foisted upon the public> > once> > >
> again.> > > > >> > > > > Dorothy
Carter wrote:> > > > >> > > > > >
cycles have to play out... you can't trick them to speed up...it's>
> like> > > > > > asking a tulip to push through snow
in order to bloom.......These> > > > larger>
> > > > > cycles were in play before Bush became Pres.
and prior to> > 911.......> > > > with> >
> > > > large layoffs.. banks end up owning a lot of
realestate.... ina> > few> > > >
yrs..> > > > > > auctions at banks will be good fire
sales...... have experienced> > this> > > >
cycle> > > > > > before in Alaska back in early
80s.......... Now the post office> > bail> > > >
out> > > > > > will be as costly as the airline
bailout.... DEBT DEBT DEBT..one> > > >
small> > > > > > check from Uncle Sam won't last 1 month
in the hands of thosewho> > need> > > >
it.> > > > > > ----- Original Message -----> >
> > > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>> >
> > > > To: <realtraders@xxxxxxxxxxxxxxx>> > >
> > > Sent: Friday, November 09, 2001 6:33 AM> > > >
> > Subject: Re: [RT] Debt> > > > > >> >
> > > > > I read within the past few days that only 20% of the
taxrebates> > were> > > > > >
spent,> > > > > > > the rest went into savings and
debt paydown. I suppose that ifthe> > > > next>
> > > > > > package goes to those who have to spend it there
will bespending> > but> > > > > > >
otherwise, from the standpoint of economic stimulus, lookslike>
> > > another> > > > > > > waste of the
surplus.> > > > > > >> > > > >
> > Earl> > > > > > >> > > >
> > > ----- Original Message -----> > > > > >
> From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>> >
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>> >
> > > > > Sent: Thursday, November 08, 2001 4:17 PM>
> > > > > > Subject: Re: [RT] Debt> > > >
> > >> > > > > > >> > > >
> > > > corp name...... and the corp calendar to float more
debt> > > > continues...> > > > > >
then> > > > > > > > there is the consumer.......
DEBT... DEBT .... DEBT......Itnot> > > >
just> > > > > > the> > > > > >
>> > > > > > >> > > > > >
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