| Mortgage Forclosure The forum for everything related to Mortgage Forclosure |
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07-23-2008, 12:56 AM
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Why are the banks, loan companies, & mortgage...
...companies forcing home owners into foreclosures? Wouldn't those companies make more money if they allowed everyone to keep their house and just lower their payment to something more affordable? Not only would they still be getting some money it would help the mortgage crisis. Correct me if i'm wrong.
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07-23-2008, 02:28 AM
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You are right but the loans are set up to make money for the bank and by extending it they will lose there investors. On top of that. Banks are famous for spending the money before they receive it so to make so they are using the people that buy and sell homes to make the money they need to satisfy the investors. Which has created the crappy circle.
THis is only what I see no experience. |
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