Diane said:
I understand the process, you don't pay your mortgage and you can lose your home to foreclosure. It's happening everywhere, but here's my dilemma, as a real estate investor, I'm surprised that the bank forecloses on the first buyers with a mortgage of $154,000, and then after they take the home back, the bank puts the house on the market for $90,000. Wouldn't it have made more sense to lower the mortgage for the first buyers? Diane Giraudo McDermott, author of: I SOLD MY HOUSE IN A RAFFLE www.houseraffletips.com