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Real Estate & Property Law

: The Home Equity Theft Reporter

"Walkaway" Homeowners Stay On Lenders' Radar For Unpaid Debt Balances

By r morris

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In Detroit, Michigan, the Detroit Free Press reports:While foreclosures and loan modifications have made it tough for overwhelmed banks to go after walkaway borrowers, there's evidence they are starting to crack down. Lenders are hiring collection agencies. They also are getting deficiency judgments -- court orders that allow banks to collect on mortgage balances. Once an order is in place,

Full post as published by The Home Equity Theft Reporter on March 12, 2010 (boomark / email).

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