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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I think it's driven by regulations requirng them to declare a loan non-performing and reserve against it at 60 days past,
