Why don't mortgage lenders lower the rate for...
...buyers who face foreclosure due to the bubble burst? I do not understand why a mortage company would forclose on a buyer because of the housing bubble burst without offering a lower rate. The mortage company after forclosure will have to sell the house at a lower price to someone else. They will lose monies doing this, will they not? How can they make more money by forclosing and reselling at a lower price. Who else is going to buy it?
|