1. WD says

    If I were a mortgage income investor, I’d be pushing the pool peddler to quickly foreclose on defaulters – then go after them later with a deficiency judgment (know this wouldn’t work in CA). The self serving rationalizations you see on the tube every week are just incredible. None of these investors wanted a house – they delivered funds for a promise of payback. They had no control over real estate markets or borrower purchase decisions. Why should they now be expected *not* to hound these deadbeats into oblivion?

    The only “timeout” or escape should be through a judge with a bankruptcy order. That’s the process folks…and independent set of eyes to determine what’s fair – not what’s convenient.

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