April 21, 2015

How to Think About Home Foreclosures

Understanding Home Foreclosures

To understand home foreclosures, you need to understand how bank mortgages are structured.  Once you do, it will be easier to see how I view the problem of dealing with losing a home because you will see there is no "bank", there is only a conduit through which depositors - waitresses, business owners, factory workers, teachers, doctors, lawyers, and accountants - lend their money to try to combat inflation. Imagine that on Monday, your friend asks to borrow $50 from you.  You agree, on the c … [Read more...]