Quote:
Originally Posted by slapass
The toxic debt is getting worked out. People are losing their homes, refi ing etc. The banks did write it off that was the reason for the huge losses. And don't listen to the hype. Toxic makes it sound like it is only going to get worse but real estate has already started to firm up and every few percent rise helps the "toxic debt".
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thats not 100% true.. the govt allowed banks to shift toxic debt off their primary books, its still there, but the new accounting rules allowed them to shift that without taking an immediate loss..
i am trying to buy 2 foreclosures (triplex) from 2 separate banks and they didnt want to budge on the price..
fortunately for me, one is a freddie mac and they keep dropping the price $7k every 30 days, so hopefully i will get them both for less than my original offer...