Don’t feel sorry for the “banks” at all. I think there was a lot of mutual hand greasing going on in the broker business. What about PMI? second mortgages? I just hope the banks/companies are man enough to pay their taxes on all those repos they now are holding onto. I guess people like McCain have 5 years to not pay there taxes before it gets auctioned off. I am so glad my offers were never accepted, Hallelujah! I remember hearing from multiple real estate agents “oh just refinance after the reset” and I remember thinking at the time “yeh right” knowing full well interest rates could not stay down forever.
