[cobra de capell]

"novice opnion" big time!

First, banks don't want to discount the mortgage upfront in order to sell them to the government. The result would be that the government would buy high and sell low costing taxpayers trillions. If there were investors lined up to buy bad paper (mortgages) they would have already done so - there are no buyers, unless it's pennies on the dollars (same a you).

Actually, most of the properties out there that are pennies on the dollars are junk and sitting on .10 acre. Also, the downturn in real estate has about 12-18 months to go.