I found this item on MSNBC this morning. It is yet another attempt to deal with the housing mess which has really not been fixed although it has, for the most part, fallen off the mainstream media radar. How effective will this one be given that the loan modification programs have had very little impact? My guess will be not all that effective. After all who owns these mortgages which have been bundled into collateralized debt obligations or mortgage backed securities and sold off in slices to whom ever? I have been reading stories every now and then about foreclosures that have hit legal brick walls because the bank trying to foreclose has been unable to provide the 'paper trail' that proves it has a right to foreclose.
Monday, March 8, 2010
Good Monday to all. We had some light fog this morning but it looks like it will burn off soon. Over night light rain has washed a good bit of the snow away but there are still small mountains over my garden containers. The weather people have promised us a couple or three days of 50 degree weather. I really do hope so. If they are dry and the snow has disappeared I will try to get out and erect the plastic over the big ones. In the mean time I have to get the seeds started inside.