[quote=PadreBrian]
Yes, sometimes that takes close to a year if the thief squatting in the house knows how to drag it out, but they always make it to market sooner or later.
[/quote]
Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.
But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.
I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.
So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.
BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.
So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?
And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?
