Posted by hg(nyc) on December 05, 2000 at 08:52:10:
Then I would have understood about the credit line.
I do not operate with a credit line. But I believe that funds would not entirely dry up. They may require higher margin in the account or reduce the collateral to loan ratio. And if your credit line is with a real bank then maybe you should check out a brokerage company like M-Lynch or any of them that really understand asset lending.
Keep in mind one of the main underlying issues with Breen. They bought everywhere; Camden, East Orange, Newark, not higly desirable or higly “redemptive” areas. This ofcourse reduced the amount of redemptions and increased the amount of “stuck” money.
BTW, I am going to make a few calls about that technical solution I mentioned to you.