I think I recall some comments at calculatedrisk from close observers of actual loss mitigation practices in play around the country. Some loss mit folks are keeping their weapons holstered even in recourse states.
Where a lender has many borrowers jingle mailing, the risks and direct costs of going to court aren't especially attractive compared to letting the borrower walk and writing it off. Seems having recourse is not the same as choosing to exercise it.
Seattle Bubble Forum Archive
Archived forums. Find the live forum at SeattleBubble.com/blog/forum/
NOTE - This page is a static archive. Visit the current Seattle Bubble forums at SeattleBubble.com/blog/forum/
Past Posting in Real Estate
Moderators: synthetik, The Tim, Lake Hills Renter
14 posts
• Page 1 of 1
Past Posting in Real Estate
by Alan » Tue Jan 22, 2008 3:23 pm
- Alan
- Bubble Banter Boss
- Posts: 780
- Joined: Sun Feb 18, 2007 7:08 pm
by Denny Retrograde » Wed Jan 23, 2008 12:30 pm
- Denny Retrograde
- Bubble Watcher
- Posts: 33
- Joined: Fri Mar 23, 2007 3:46 pm
- Location: Unreconstructed Pocket of Old Belltown
by Alan » Wed Jan 23, 2008 1:07 pm
I think that orgs dumb enough to make that many bad loans will also be dumb enough to not figure out the correct expected value of pursuing after delinquencies.
But then I'm feeling awfully cynical these days.
But then I'm feeling awfully cynical these days.
- Alan
- Bubble Banter Boss
- Posts: 780
- Joined: Sun Feb 18, 2007 7:08 pm
by rose-colored-coolaid » Wed Jan 23, 2008 2:03 pm
- rose-colored-coolaid
- Bubble Banter Boss
- Posts: 1978
- Joined: Mon Jun 18, 2007 10:26 am
by rose-colored-coolaid » Wed Jan 23, 2008 4:26 pm
- rose-colored-coolaid
- Bubble Banter Boss
- Posts: 1978
- Joined: Mon Jun 18, 2007 10:26 am
14 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 9 guests