I just received an email that was asking the following.....
I'm looking for anyone who has evidence of, or experience with, any "buy & bail" transactions. Those would be transactions whereby someone purchased a new home at today's discounted price then stopped making payments on their prior residence which had them in a negative equity position.
ABC-TV News wants to do a story on how the brand new lending guidelines restrict people from being able to pull off the "buy & bail". It's not an expose style article and no one will be expected to incriminate themselves in any manner. We're looking for expert opinions.
Please let me know if you can supply any pertainent info. Many thanks.
I then translated the word HOME with TRACT-OF-LAND purchased by Home Builders.
Are we in a place where Home Builders are Buying and Bailing? Well maybe more elloquently said, Home Builders Had Purchased TRACTs-OF-LAND and are now Filing for Bankruptcy?
Just a thought.
Let me know YOUR THOUGHTS!