"I'm amazed people are still paying their mortgage", Says Wells Fargo Economist.

At the South Florida NAIOP meeting this morning.  Darcie Lunsford asked Vitner (Wells Fargo Senior Economist) about the Foreclosure crisis. “I’m amazed that borrowers who are “underwater” on their loans are still paying” came the response.  He also suggested that burrowers be given a 2nd Mortgage at a low rate that is equal to their -ve equity.  This could be portable should they wish to sell thier homes and move to another city for a job.  Not your typical banker!  More to follow on what the pundits said.

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