My Examiner.com Mortgage Industry article from 11/28 -
Industry insiders call it buy and bail. Home owners faced with rising rates or simply declining values will purchase a new home at lower market prices and lower fixed rates and simply leave the other property to be foreclosed upon. Many call into questions the ethics of such a decision while others defend it as a solid business move saying it is neither immoral nor unethical.
Brent T. White, a University of Arizona law school professor, recently published (read it all and subscribe for free :)
No comments:
Post a Comment