thomast2

Foreclosure Versus Delinquency: Either Way, Financials Will Pay

Thanks both for your comments. I think when seekingalpha moving my article over from my blog site vestopia.com, it made a minor error. What I said was "Foreclosure has already caused bank's recovery rate at 50%". What I meant was due to the increasing foreclosure with fire sale prices, lack of bidders, further deteriorating of real estate market, banks and mortgage companies can roughly recover 50% of their loans. So Zhang Fei, your interpretation is correct.