Banks Playing 'Foreclosure Roulette' with Delinquent Homeowners

Banks Playing 'Foreclosure Roulette' with Delinquent Homeowners

huffpost

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."

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