[quote=poorgradstudent]I’m confused, considering your 70% down payment should make you a great bet. Because if you walk, they get to keep the house, and your 70%… the market would have to crash a LOT for that not to be a good bet.[/quote]
YOU DONT UNDERSTAND THE SYSTEM.
Hard money lenders will take that chance at much higher rates.
There are many ways to fight foreclosure.
Not so easy to get a house back and there are plenty of expenses involved and crazy moratoriums etc.
Don’t be confused, just accept that’s how the system works. They are not in the business of foreclosing.
They ARE in the business of having clueless people overpay for houses with very small downpayments.
Do you understand that housing market is the greatest Ponzi scheme ever invented ?
