Inman PM: Borrowers look like IEDs to lenders

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Friday, June 04, 2010

Borrowers look like IEDs to lenders
By LOU BARNES Today's payroll flop -- only 20,000 real jobs created in May -- will take some time to settle all the way in. Immediately: 10-year T-notes are 3.22 percent (from 3.36 percent yesterday and 3.99 percent six weeks ago), and mortgages are below 5 percent. More »

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READER COMMENT

Premium Members "Would I walk away? I already have. I have absolutely no guilt about doing it. A mortgage is more than a contract. It is a covenant, meaning it requires good faith by its parties in its execution. When a contract is designed and executed by one party, with an intent other than the purpose of making a good mortgage with a partner, then the contract by nature is not of good faith. When a contract cannot by mitigated in its problems by the honest efforts of its parties, then the contract by nature is not of good faith." --Eric James

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