JP Morgan starts voluntary moratorium on mortgage foreclosures – is banking sector ready for the next avalanche – the commercial real estate?
Bernie Snyder
Oct. 31, 2008

JPMorgan Chase & Co., the largest U.S. bank by market value, said none of its customers will face foreclosure in the next 90 days while it finds ways to make payments easier on $110 billion of problem mortgages.

But is the US Banking institution ready for the next avalanche – the failure of the commercial real estate sector?

According to many analysts, more than a trillion dollar is at risk in the next six months as US commercial real estate sector fails.

Federal Deposit Insurance Corp. Chairman Sheila Bair has proposed a plan to guarantee mortgages to help stem foreclosures, according to two congressional aides briefed on the matter. Her idea is to use as much as $50 billion of the $700 billion financial-services industry bailout package approved by lawmakers this month.

No such proposal will save the US financial institutions from the new storm – category 7 – the failed commercial real estate.

JP Morgan starts voluntary moratorium on mortgage foreclosures – is banking sector ready for the next avalanche – the commercial real estate?
Bernie Snyder
JPMorgan Chase & Co., the largest U.S. bank by market value, said none of its customers...
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