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In response to
"if you were a back, would it make sense to have a $100,000 loan outstanding when the collateral is only worth $1? -- nm"
by
znufrii, unpatriotic
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When they're still making payments it makes a lot more sense than it does to erase the loan and take the dollar.
Posted by
Ender (aka Ender)
Feb 20 '09, 14:02
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Hmmm, let's see... Under one situation they're making $500 a month in mortgage payments. Under the other situation they have... one dollar.
Tell me, which situation makes more sense to you?
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