Marc's Mortgage Matter's

In a study released by Equifax, borrowers are more likely to choose to let their mortgages slide than credit cards or car loans. The study looked at thousands of borrowers who had taken out mortgages in 2002 and 2005 and watched them in the years since. For the most part, the borrowers had decent credit scores. Many borrowers who kept up their credit card and auto payments had loans on investment properties which they let fall behind: speculative homeowners who walked away from the mortgage after the value dropped below the mortgage. But according to a spokesperson at Equifax, even those whose only mortgage is the family home will often push the housing payment aside. "They know they have to make payments on their credit card because they need that, and they need their car to get to work."

When asked about the stock market, one investor responded:

“This is worse than a divorce, I've lost half of my net worth and I still have a wife ...”

Merrill Lynch has adjusted its investment portfolio: 50% cash and 50% canned goods.

How many investment bankers can you fit in the back of a pickup truck? Only 2 - you have to leave room for the lawn mowers!

Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and give a warning since this explosive situation might prove to be yet another ENRON. Please review any holdings you might have in the following stocks: American Can, Interstate Water, National Gas Company, Northern Tissue Company.

Due to uncertain market conditions, I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue touched a new bottom yesterday, and millions were wiped clean.

It's a tough market out there. Be careful!