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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Lizzie Tudor who wrote (142477)10/22/2008 2:41:43 PM
From: HPilot1 Recommendation  Read Replies (1) of 173976
 
Where do you get 2%. There are almost 3% in foreclosure and the total not paying, that is in default is about 8%. You don't need leverage for that amount to cause problems. Think about it one $400,000 home in foreclosure is a loss of $200,000 if the house is sold at 50% its mortgage value. Say they average 1% profit on all loans after they pay back the Feds plus handling costs. That means that that one foreclosure needs over $20,000,000 of good loans just to break even.

Hell you don't do math, you just spout trash from your communist blogs.
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