DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Bank of America offers up to $20,000 short sale

**R1king** · 10-11-2011, 06:39 PM

What this tells me is that they don't expect housing to recover in the short term.

They also don't expect the mortgage holders to be able to start making payments in the short term.
Really the underlying message of this whole plan is that it's preferential to take another 20k loss, *over what has already been lost*, to holding the property and chancing that the borrower finds a job.

They feel that the odds are so stacked against housing going up again, and against employment going up again, that the mortgage is actually a liability they will pay to be rid of!

10-11-2011, 06:39 PM	#9
R1king Join Date Oct 2005 Posts 650 Senior Member	What this tells me is that they don't expect housing to recover in the short term. They also don't expect the mortgage holders to be able to start making payments in the short term. Really the underlying message of this whole plan is that it's preferential to take another 20k loss, over what has already been lost, to holding the property and chancing that the borrower finds a job. They feel that the odds are so stacked against housing going up again, and against employment going up again, that the mortgage is actually a liability they will pay to be rid of!
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