Sunday, June 13, 2010

Lenders Expect To Sue Foreclosure Home Owners In Next 2 Years.

RealtorMag article summarized by Troy Corman

Industry experts expect a wave of lawsuits in the next two years as lenders try to recoup losses from home owners who merely walk away from their mortgages. Also, those that damage homes and face foreclosure can also expect to be targets of lender lawsuits. The suits will most likely discourage future home owners from throwing in the towel. Also, as the taxpaying public grows tired of government bailouts and handouts, it's unlikely that politicians can implement crony capitalism much longer - as natural market forces are best equipped to return us to a healthy economy.

As foreclosure delinquency rates remain elevated, lenders are expected to work with homeowners who negotiate in good faith, while others can expect to face collection agencies who purchase the mortgage debt from the lender.

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