Valuations and Sales Discounts Eat Away at Foreclosure Proceeds
Low property valuations and steep sales discounts reduce the proceeds from liquidated loans by almost a third, according to Moody’s Investors Service. As home prices drop, equity erosion drives most of the losses incurred on defaulted mortgage loans, but the analysts at Moody’s say in today’s environment that’s not the whole story. They maintain that …
Continue reading ‘Valuations and Sales Discounts Eat Away at Foreclosure Proceeds’ »