Yes, good post Bugs, the small margin that the lender makes explains why it doesn’t take that many forclosures for them to feel the pain plus the dollar value of the loans made from 2003-2006 that are going bad has to be much higher than the loans that were made 10 or 20 years ago and those loans aren’t going bad but are used to get the stat about what percentage is going bad. If I were to say that 1 of my 100 stocks went worthless it doesn’t sound too bad but if I had a third of my money in that stock it is an entirely different scenario.
