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6 pts

Opinion on  Sovereign Bancorp Inc. (SOV)     Sector: Financial  >  Industry: S&Ls/Savings Banks
Strong Buy for the Next Ten Minutes

Nov 08, 2007 01:23 AM UTC
Barbaro
Return Risk
-2.16% MID
Associate

Recent News  

Banks Fight Home Loan Bankruptcy Bill
Wednesday November 7, 7:33 pm ET
By Alan Zibel, AP Business Writer
 
Mortgage Industry Battles Bankruptcy Law Changes That Would Allow Judges to Modify Loan Terms

 

WASHINGTON (AP) -- Mortgage lenders are fighting lawmakers' efforts to enable bankrupt borrowers to reduce the size of their home loans, arguing this change would magnify the housing crisis by driving up interest rates.

The House Judiciary Committee put off a vote Wednesday evening on a bill by Rep. Brad Miller, D-N.C., and Rep. Linda Sanchez, D-Calif., that would allow home mortgages on primary residences to be modified in bankruptcy court. Doing so, advocates say, could help as many as 600,000 homeowners avoid foreclosure.

May they put off the vote forever. Damn I've made alot of oney in the past few days. Now I'm wishing for the roller coaster to just come into the station.

 


SOV:  This call was made on 11/08/07 @ $12.35
Rating:   Positive   $12.35 (11/08/07)
Closed:   11/30/2007 @ $11.63 (-5.83% in 22 days)
Target:   $13.00 (+5.26%) in > one year


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dogcrap previously rated SOV
Positive +0.00% Strong Buy for the Next Ten Minutes
11/08/2007
6
Positive +0.00% Strong Buy for the Next Ten Minutes
11/08/2007
6





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