I have suspected this was going on at unprecedented levels and now I have confirmation from today’s Kansas City Star. The Star reports in the Business section that CountryWide Financial Corp helped 81,266 borrowers renegotiate their terms to allow them to stay in their homes.
First, this just seems smarter than taking the real estate back. Second, it shows there is a movement by the free market to correct it’s own mistakes. And third, the borrowers will benefit, at least in the short term.
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I’m picking up Jeff & Josh Brown today from KCI. For anyone interested, we’ll be atBB’s Lawnside BBQ tonight. We’ll probably get there around 7:00. John Paul’s Flying Circus will be performing. Maybe we’ll see you there.
For a late lunch I’m taking him to Arthur Byrant’s. It’s my hope we’ll put 20 lbs on them before they leave.
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Anyone else tired of all the snow? And the kids are out, again. Ugh.
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Watch carefully for the new construction homes announcement next week. I’ll be unveiling it this Saturday to the workshop attendees. Whatever is left will be on this blog.