jack matalka

Buyout Not the Best Option for WaMu Shareholders

Foreclosed mortgages are not a 100% total loss to the financial institutions. There are always assets like houses, apartment buildings, etc. These are valuable properties ( bad areas are immediately sold not carried on the books of most financials institutios) that have market value normally at 120% of the foreclosed loan. These properties are bank sold. Often multiple bidders are worked to bid up the sale price by brokers. Most are sold within 90 days of forclosure. Hey it ain't so bad!!!