OP
ultrarunner
Epic Contributor
- Joined
- Apr 6, 2004
- Messages
- 24,106
- Tractor
- Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
Mortgage foreclosure insurance ... it has to go thru the process so the lender can collect on the insurance to recap the loss and then they can sell it.... thats what I have been told.
I recently did a real estate auction for the lender ... they needed $250K the last bid was $227K they declined paid my fee's and expenses ... then I was told the foregoing by the lenders rep. It appears to be a win win for the lender.
This makes sense... can't think of any other reason unless the bottom line is more dollars when it is said and done.