Contrary to popular belief, mortgage lenders are totally opposed to foreclosing. If they have to do it, it'll usually cost them money. And who wants to lose money? Nobody. EMC Mortgage reports that on average it loses 40% of the value of a home loan gone into foreclosure, plus typically has to pay property taxes and other expenses related to the house. That's bad business.
The question is, how are lenders dealing today with the alarmingly climbing foreclosure numbers? EMC and some others have come up with feasible solutions. Read more by clicking here.