Housing: The Bigger The Loan, The Longer To Foreclose

Housing: The Bigger The Loan, The Longer To Foreclose

When it comes to foreclosing, lenders see some delinquent homeowners as more equal than others. Sean OToole, founder of ForeclosureRadar, figured out how to show that banks were going easier on bigger borrowers when he analyzed all California foreclosures. He said the change in accounting policy caused banks to be tougher on people with the smallest loans. He said banks avoided taking losses on big loans the longer they delayed foreclosures.

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