baseline budgeting: Why don’t the banks just foreclose on people or forgive principle?
- 05/25/12 12:22 AM
Why don’t the banks just foreclose on these people? Allow me to state is this way, the amount of debt that has been leveraged is beyond our financial systems capability to handle. If we foreclosed on everyone not making a payment and allowed the homes to be vacant, the responsibility to maintain these homes would fall on the banks, who are not set up to do this. This would cause quick deteriorat…ion to the homes and massive increase in rehabilitation cost born ultimately by the investors who bought the mortgage security in the first place. Who are they? They are your … (2 comments)
Why don’t the banks just foreclose on these people?
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