Quote:
Originally posted by 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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Isn't there also a problem with having all of the mortgages securitized, and as a result getting the various interested holders of a piece of the mortgage together to agree to work-out terms is much more difficult than if, say, a single bank owns the loan?
