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Is This Mortgage Worthless?
There is a market. The businesses holding the mortgages do not like the market because if they sell in that market they will not recover most of their original investment. That is not lack of market.In fact, the businesses holding mortgages are wagering that a government bailout will pay more for these mortgages than the market. So much so that they are refusing to participate in an existing market. I have $5.00 in my wallet. I will pay $5.00 for any $1,000,000 portfolio of American mortgages held by any entity. There, I have created a market for mortgages. [more at link] Posted by: Chuck Simmins 2008-09-28 |
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