Quote:
Originally posted by sebastian_dangerfield
What I don't understand is why so many properties are in foreclosure so rapidly. Is this because the paper was flipped so many times? Or is everybody running to foreclose so they can sell off the properties while the discount is still modest? You'd think they;d want to be a little more open to liberal workouts from a cash flow persepctive. Maybe it's a regulatory thing.
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A significant percentage (perhaps most) of the foreclosures are on "investor" properties. If there's no one living in them and no hope of flipping, then there's no reason to make payments. Make no payments for 6 months and don't return calls from teh lender, what else is the lender going to do?
