Yeah, I suspect what we’ll see is a loan reform like we just saw credit card and bankruptcy reform.
In the end, they’ll doa bail out, it’ll be a spit in bucket that helps a few out that were not really over extended, just in a stupid option ARM because that’s what made the broker money and can afford the real fixed 30 year rate.
The rest simple, cannot be helped. It isn’t a matter of wanting to or not, it’s a matter of you just can’t make it work. Many are so over-extended that they can’t cover long term market interest charges. There’s no extending around that.
