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mortgage security
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hinfarm
Posted 3/1/2015 16:13 (#4423231 - in reply to #4423160)
Subject: RE: mortgage security



Amherst WI
I get that they can do it but it still doesn't make sense.

If the occupants are paying $300,000 payments on a $200,000 house and the lender says pay up or get out what do they gain? They get a $200,000 house that they loaned out $300,000 for (minus the down payment, if any and payments since then). The lender will be darn lucky to even get $200,000 if it goes to a sheriff sale.

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