Ya- banks will be doing whatever they can to make sure that they dont have to foreclose on real estate that is worth less than the loans that are being secured by it. Very costly process - workout situations. Taking lower than market interest rate on rewritten loans, writing down interest and principal, not to mention the huge cost in labor to do it. Hey but one bright side, give the banks something to do, -they aren't going to be writing any new loans.
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Latest | Highest ratedWhy Yesterday's Optimism Wasn't Warranted [View article]
Why Yesterday's Optimism Wasn't Warranted [View article]
Why Yesterday's Optimism Wasn't Warranted [View article]