HOUSING: The bigger the loan, the longer to foreclose

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September 18, 2011
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When it comes to foreclosing, lenders see some delinquent homeowners as more equal than others.Sean O'Toole, 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.

Written by:
Written on:
September 18, 2011
Category:
Not Categorized