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Reply #81: I'm sorry, but you are wrong on this. [View All]

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Ginto Donating Member (439 posts) Send PM | Profile | Ignore Sun Oct-31-10 10:13 AM
Response to Reply #77
81. I'm sorry, but you are wrong on this.
When I worked at CITI years ago we were paying the loss mitigation department members above 100K in many cases to specifically prevent properties from going to foreclosure sale. An investor can expect to lose at least 40% on any property that goes to foreclosure. The new meme that servicers and investors make money off of foreclosures is similar to saying that doctors order unnecessary tests to make money.
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