Just so everyone is aware, I am 100% ready and willing to sell all my loans on the borrowed amount (plus any interest ACCRUED, but no future interest) if there is a secondary market.
I want out.
You'd have to sweeten the pot a bit there, MtnChick.
I'm planning to offer all of my current loans at a discount from the remaining principal balance. The amount of discount will be dependent on their past payment record. For loans with 100% on-time payments, the discount will be small.
Assuming that the secondary market becomes available soon enough, I'll keep late loans until they default or become current. If they become current, I'll sell them at that point.
If the secondary market becomes available late enough in the year that I would end up carrying late loans into 2009, I'll sell those at a
major discount before the end of 2008.
Edit: added the word "principal" in the first sentence to clarify my meaning.