Banks Playing 'Foreclosure Roulette' With Delinquent Homeowners

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September 2, 2010
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Banks don't want to recognize losses by having to put homes on the market at foreclosure-sale prices, but they don't want to encourage borrowers to quit making payments either, so, O'Toole believes, they randomly foreclose on some people to prevent widespread "moral hazard."

Written by:
Written on:
September 2, 2010
Category:
Not Categorized