Intentional Foreclosure

January 27, 2008

Category: Business Email Email    Print Print    

If you could trade your credit score for a nicer house, would you? Welcome to the new trend in American real estate. This could be interpreted positively, it would seem to indicate the number of future foreclosures will cause some to overstate the loss to actual revenue for lenders, but I would instead argue it’s more reason to be cautious when using the number of new mortgage applications issued or accepted as proof of some kind of recovery.

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