Banks Victimized by Evicted Homeowners

[futures2008]

Warren Buffet: Banks Victimized by Evicted Homeowners

There's some truth to what he's saying ... but trying as hard as I could, I failed to muster very much sympathy for the banks.

[cctxfan]

Yeah, this is true. Quite a few of these loans were mostly likely done by overzealous banks willing to give loans to folks with crappy credit.

Another thing to think about is none of these people will make out scott free with that cash. They'll have a foreclosure on their credit report for seven years and that will be worse in terms of getting a new home loan than if they had gone through bankruptcy. Of course, bankruptcy probably wasn't the best course in terms of keeping the home because they were most likely underwater on their loan.

[Bitterwhiteguy]

Originally Posted by futures2008

Warren Buffet: Banks Victimized by Evicted Homeowners

There's some truth to what he's saying ... but trying as hard as I could, I failed to muster very much sympathy for the banks.

I'm playing a tiny violin right now.