Quote:
Cletus Miller
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?
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Sit on a portfolio of useless REO? Or more likely do a workout and eat half the UPB?
