Sell the common, buy the preferreds. Take the tax loss on the common. Buy the preferreds and hope for the best. You can buy the preferreds for two percent or less of par value. They are more or less quasi-debt so its likely that they will do better than the common. Enjoy your kids while they are still at home. Also, convert any traditional IRAs you might have to Roth, so if it does pay off, you'll have tax free gains.
I agree. even the preferred stock is stock..it has some precedence over common but it is still stock and therefore goes after all creditors in bankrupcy if there is anything left.
the common is toast. the preferred MAY have a little value but not much.
all this talk about how much the USA needs fnf doesn't make sense. fnf can survive as operating companies after bankruptcy. as a matter of fact most compabies are stronger finacially after bankruptcy because they gey rid of their burdensome debt. but that doesn't do the common holders any good since they will no longer be owners of the new company after it emerges from bankruptcy.