Mortgage Bailout

[Seether]

Actually you are very incorrect. I am currently in the process of obtaining my real estate license, and from the book.

"However, if any money remains from the foreclosure sale after paying the debt and any other liens, expenses, and interest, these proceeds are paid to the borrower"

The problem with the current subprime market is that many lenders were providing loans of over 100% loan to value which created inflated principals which caused larger payments etc.