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EPA Head Flips, Flops

345
Randall Gross5/12/2009 4:39:20 pm PDT

re: #338 albusteve

true, it the banks that benefit in the short run….extending a loan with a fixed rate will only prolong foreclosure…homeowner is still gonna go down, just sometime in the future

Nope, those who cut deals generally work through them. My wife’s been in banking 30+ years, I know this stuff. Most banks don’t want to foreclose, and especially during bad economies. It moves huge amounts of cost onto their books. They have to pay the upkeep, the insurance, the tax etc. etc. etc. They would much rather cut a deal with an earnest homeowner.