Real Estate News Blog Washington October Archive

You can pay your mortgage, but won't: 'Walkaway,' beware

By Art C Ryter at 10/13/07 02:34

Urges owners who are close to losing their homes through foreclosure to seek help from their lenders. Lenders are increasingly bending over backwards to help borrowers keep current with their payments if they have legitimate reasons for not being able to make full payments, such as job-loss, health concern or accident. Those people who can afford to pay but choose not to for what ever reason are being tracked with advanced technology and will be pursued to comply with the letter of the law. Investors looking for some action have been buying loans at 50% to 60% discount and may be willing to settle terms with willing, and cooperative homeowners.

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