How Are Mortgage Companies Going Bankrupt, Half Of My Mortgage Payment Goes Towards Interest, They Are Making A Killing Off Of Me And Others Like Me Who Pay There Mortgage?
Answer:
There are two problems driving mortgage cos. Out of business, 1) People defaulting (making no payment) on their mortgage and 2) Not being able to sell their loans on the spread out market (sort of like having a credit flash you have maxed out so you can't spend or in the case of mortgage cos., lend). Additionally, on the default the mortgage cos. Must sell the home at a big loss. All in all a desperate thing for mortgage cos.
Hope this helps.
Sell My Note Guy
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