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Chimera Investment Corporation Message Board

  • craig.knebel craig.knebel Jul 20, 2011 3:24 PM Flag

    bllomberg news report

    According to Bloomberg News, the treasury department is going to initiate a plan to help one million homeowners avoid foreclosure. It would apply to mortgages bundled in non-agency securities. These are the securities everyone selling CIM is worried about. According to an analyst at Amherst securities, "the value of the securities would likely increase."
    here is the link:
    http://www.bloomberg.com/news/2011-07-20/treasury-explores-plan-to-help-1-million-u-s-homeowners-avoid-foreclosure.html

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    • The federal government had another program to help homeowners in distress.
      That circus traveled to convention centers across the country and people waited for six, seven hours to see an advisor.
      Both my friend and friend's dad went to it in Atlantic City. They waited for an entire working day. More than a year later both went bankrupt, my friend lost his condo, and his dad did a short sale, because he had already gone bankrupt.
      The help they got from the federal government was nil, NOTHING, useless, a waste of time.

      Anyone who believes this new "program" is going to help anyone is delusional.
      As long as the banks are not willing to take the haircut and cut the mortages, nothing is going to happen, short of our bankrupt federal government purchasing every underwater mortgage in the country to the tune of a few trillion dollars.. all at taxpayer expense..

      i am sure a lot of you are looking forward to bailing out all the morons who purchased overpriced houses..NOT

    • Hey Craig -

      Nice find..................Thanks for posting the article.

      However, I'm going to be a "doubting Thomas" on this one and I will believe it when I see it happen.

      IMO currently it's just someone running an idea up the flag pole - and there seems to be a lot of that going on recently.

      Salty

    • Thanks "Craig" - Good Info. I am a big fan of AGNC but CIM is very cheap now!

    • While I disagree with the policy of further Treasury intervention into the mortgage market, I can only say...

      Yea!!! It should be good news for REITs in general and specifically for CIM.

 
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