Home |
Search |
Today's Posts |
#11
|
|||
|
|||
"Mike Coslo" wrote:
It's not as lucrative as you make it sound, Dwight. Also, these people are reasonably well off, retiring with money equivalent to upper middle class or better. (snip) I have no idea how lucrative it is. An acquaintance (hard to call this guy a friend) works for a mortgage company and just loves to talk about the shady side of that industry. The company he works for (a nation-wide franchise chain) just switched to more agressive foreclosure practices and, based on the stories he tells, I most certainly would not want to be a customer of that company. Of course, this company has always had questionable (in my opinion) foreclosure practices. He told me years ago (late 80's, early 90's) that, mainly because of increasing property values, it was far more profitable to foreclose on older properties than to maintain the mortgage. As such, the company used every opportunity to foreclose on those mortgages. Today, according to him, long term mortgage foreclosure offers the most gain. Therefore, they now actively seek those who have the greatest possibility of foreclosure years from now, such as the elderly, those with speading habits that suggest possible credit problems down the road, and so on. Now, since I don't work in that industry, I have no idea if this is entirely true or even widespread. But, I've seen enough written about these types of practices to suggest there is at least some truth to it. Dwight Stewart (W5NET) http://www.qsl.net/w5net/ |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
FS Large Lot of NEW NOS Tubes | Homebrew | |||
FS Large LOT Of NEW Tubes | Boatanchors | |||
FS Large Lot of NEW NOS Tubes | Homebrew | |||
FS Large Lot of NEW NOS Tubes | Homebrew | |||
FS Large Lot of NEW NOS Tubes | Homebrew |