As Duncan points out, “Duh!”

The thing that mystifies me is why the administration and the Fed continue to do the exact wrong things to deal with this crisis, which leads me to believe either they’re unbelievably stupid — or have a different agenda than the one they claim to have.

Gee, I wonder.

6 thoughts on “Cramdowns

  1. Ya know, I can’t say that we actually got a “cram-down” as it’s defined here, but in 2005 we foreclosed long before it was “popular”. The next thing we knew a realty company was seeking our business in 2008—we’re in an apartment at the time, fucked-up credit and all—-and they are offering an unbelievable deal which allowed us to purchase a new home at 3.5%, low down payment, and a monthly note $250.00 LESS than we’re paying at the apartment. “SUUUweeeeT”, we said, and moved in. Is that a cram-down, or what? If it is, everybody oughta have one of those!

  2. Dandy — looks like you got a good deal there. I don’t think that counts as a cramdown but it is a RE company looking for good business opportunities.

Comments are closed.