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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (533390)	11/30/2009 1:28:23 PM
From: i-node	Read Replies (2) \| Respond to of 1574737

Why would a lender want to work with a borrower who has defaulted? It requires a modification of the loan and even then, its not likely to work. Better to foreclose and sell the property.....that's the attitude of most lenders. This is a totally absurd statement. Only if a lender were itself flat broke would such a decision make any sense at all.

To: tejek who wrote (533390)	11/30/2009 2:14:49 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) \| Respond to of 1574737

Ted, > Better to foreclose and sell the property.....that's the attitude of most lenders. Seems like you and Bentway are contradicting each other. So which is it? Lenders want to cut their losses and force foreclosure, or lenders would rather have someone continue to make payments despite the risk? After all, it's not like banks haven't tried to screw over borrowers in classic lose-lose situations before. The YouTube woman whose credit card interest rate was hiked up comes to mind. What do the banks have to gain from this lunacy? Tenchusatsu