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So one would think that would be a reason to
unload it as soon as possible vs play property manager and compete with
local businesses that are in the business to do just that and stick to
banking business.. anyway.. we will see how it plays out in the
future..... thnx for sharing that... Dorothy
<BLOCKQUOTE
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Lee Morris
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, November 11, 2001 4:24
PM
Subject: RE: [RT] Debt
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 [<A
href="mailto:dorothy.carter@xxxxxxxx";>mailto:dorothy.carter@xxxxxxxx]Sent:
Friday, November 09, 2001 11:05 AMTo: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>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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