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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (82151)3/18/2001 6:10:08 PM
From: chic_hearne  Read Replies (1) of 436258
 
You left out the "sell to whom?" factor. When the housing market is weak, banks don't foreclose because there is no market. Banks don't want to own houses.

Do they have a choice when people file bankruptcy? What's the percentage of foreclosures that also involve a bankruptcy filing? My guess is it would be pretty high. People usually dig themselves in a huge hole by the time the bank starts to ask what's going on. Selling your house is last resort for most, as with filing bankruptcy.
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