[quote=Rt.66]We went thru this topic ad nausea before. Yes I admitted that every crazy thing imaginable could be happening in small number. That was not in dispute. The argument was if it was common enough to have an effect on the market.
Moral hazard is a bitch, and just a little thought on that matter will lead you to why, if it happening, it is very rare. I find myself skeptical of an attorney claiming he accomplished this and also sells his service doing it for others. Lots of stories out there of attorneys making claims with disappointing results.
Ironic that this is a thread by someone in just such a situation who CANNOT get his 2nd to go away.[/quote]
It could be possible the the thread originator just hasn’t pushed the right buttons on his second yet? Maybe they will tell him to take a hike if he does? One thing that comes to mind though is, why won’t/wouldn’t firsts cave into the threat as well? It sounds like based on the short sale flip scenarios being bandied about that they might be vulnerable. Maybe they prefer one moral hazard over another and won’t let borrowers black mail them.
BTW ,I heard a verifiable rumor at Round Table Pizza last night that banks are taking short-refis on FHA qualified homes and borrowers.No beer or piss was involved.
