TheStreet.com RealMoney

JPMorgan's Move Is Great News on Housing

By Jim Cramer

 About this article:
 Good things keep happening. The 90-day moratorium on foreclosures that JPMorgan Chase just issued is gigantic, just gigantic, as it is the repository of Washington Mutual, which has the worst mortgage base of any company. They would be tossing people out left and right if it weren't for this moratorium on $110 billion in mortgages. If you could people in their homes for 90 days, then we might be able to bridge the loans over to the TARP and then the FHA. It doesn't work if the banks foreclose. It is much better for everyone if the banks keep these people in their homes, and then they can offload these loans to the Fed. It just makes so much sense. When I see these things, it tells me that housing will bottom next year, no matter what. I believe the falloff in price will be steep...

You have just read the beginning of a premium article from our RealMoney Service. To read the rest of this article and sign up for a FREE trial please click below.

ACCESS STORY & START A FREE 14-Day Trial
Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET.
Outside the U.S. and in Canada, call 1-212-321-5200.



Already a RealMoney subscriber? LOG IN.
Username: Page data is submitted securely.
Password:
Forgot your Password? Click here


100% Money-Back Guarantee
If you decide to subscribe and you're not completely satisfied with TheStreet.com RealMoney, just call us within the first 30 days of your subscription and we'll refund your full annual subscription price — guaranteed.




If you choose a 14-day free trial of RealMoney and you do NOT call to cancel within those 14 days, you will pay $129.95 — a $100 savings off the regular annual subscription price of $229.95. Unless you cancel before the end of that year, your subscription will automatically renew for another year at the then-current subscription price.

Offer applies only to new annual subscriptions, and is subject to change at any time. Void where prohibited.

If you choose a monthly subscription, you pay $34.95 per month. You will be notified if the current monthly rate of $34.95 changes at any time in the future.

TheStreet.com is a publisher. None of the contributors or their affiliates will provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. From time to time, any or all of the contributors or their affiliates may hold positions in securities mentioned and they may trade for their own accounts. In cases where the position is held at the time of publication, appropriate disclosure is made.

© TheStreet.com, Inc., 14 Wall Street, 15th Floor, New York, NY 10005.