- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Information for my fellow Real Estate Investors
Posted on 1/2/17 at 9:06 pm to Halftrack
Posted on 1/2/17 at 9:06 pm to Halftrack
quote:
The problem with forclosures is the lender has usually already loaned out more than the value of the house.
The lender eats the difference.
If the previous mortgagor owes $100k and the value of the house is only $75k, the lender is basically screwed. They're not getting their $100k back because nobody is going to pay that.
Their options are write down the mortgage and avoid legal/eviction costs, or foreclose and get what they can. If it hits the MLS, the bank already took the house back, got the previous occupants out, and listed it for sale based on the current value.
0
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News