Name: Anonymous 2008-10-08 15:31
Are they purchasing the mortgages for market value, or for what the sellers paid for the mortgages? Because it says in title I, section 101:
>Secretary shall ... prevent the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset
But if we even paid as much as the sellers paid, it would probably be a big overpayment with the current market..
>Secretary shall ... prevent the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset
But if we even paid as much as the sellers paid, it would probably be a big overpayment with the current market..