Real life experience:
For what it's worth I witnessed GMAC buy a home from another mortgage company that was in the middle of foreclosing on this home then immediately putting it on the market at a minimum of a $100,000 loss.
Judgment calls like that may be a part of the reason the mortgage companies are about to fail not to mention 'liar loans'.
For what it's worth I witnessed GMAC buy a home from another mortgage company that was in the middle of foreclosing on this home then immediately putting it on the market at a minimum of a $100,000 loss.
Judgment calls like that may be a part of the reason the mortgage companies are about to fail not to mention 'liar loans'.
