Home › Forums › Housing › Mr Mortgage…May CA Home Sales Report -Conditions Worsening › Not a complete answer, but
Not a complete answer, but may be a piece of the puzzle of why they choose to sit on empty homes.
” . . . in the case of a bad mortgage, the bank will eventually take the house back and have to wait to resell it before a loss is recognized.”
If this is what is looks like, there are a bunch of investors / banks / regulators / politicians who have no idea just how much money has been lost.
http://www.housingwire.com/2008/06/19/the-npa-numbers-game/
