On a side note, I had a client inquire about a commercial loan yesterday. Client wanted to purchase a 3,000 sf commercial office bldg. They had one tenant occupying the entire space that was a "loan modification company". The tenant recently signed a 5 year lease agreement that also called for a 5% annual rental increase. the rental amount was $3,200 monthly. In our conversation with the client about misc stuff such as the economy, housing and the commercial real market, the client who was very positive on the "improving market" I asked....do you think there will be any more loans to modify in 1 year, 2 years, 3 years etc. When he thought about it, he said, you know I think you have a very basic and fundamental question that I had not thought of....and ended up saying, I think I will reconsider about buying the the building, as I dont want to get involved in a capital outlay, and then have the modification company unable to pay or skip out on me.