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With all western union united kingdom luton the foreclosures and people losing their properties, are financial institutions really losing -

money? After all that have awarded the title of the homes, so they still have equity. All we really are losing interest. After being rescued, even have the property. So are they really losing money? Or is this another big business scam?

I think, no, not losing. To foreclose on a house may be several years in the mortgage. If anyone has been paying 1,300 a month for five years before foreclosure, you have already paid 78,000 in the bank. If you took a loan of 200,000 to pay the rent, they have paid back almost half now. Yes, much of 78.000 will be paid interest, but be sure to interest which is of benefit to the bank anyway. If the bank turns around and sells the house for 150,000, a sharp decline of its original value sales that have made 28,000, more the interests of the new owner. In addition, there are banks "exclude" in the second mortgage can only be a few thousand dollars to get the owner by default on first mortgage so they can take possession of the house, and capital that has accumulated since the original purchase. If a house is bought seven years ago at 200,000 and now it wants the bank 350,000 150,000 extra! Even if the house is sold again for just half of what it's worth (175), the bank still earns 84 000 (assuming 1,300 monthly mortgage payment) As for losing money for a house not worth what was paid at the beginning, which can only be true for home purchases in the last year or two. Even if the market value is decreasing in some areas, the home is probably worth as much or more than it was worth five, or seven, or ten years ago when the house was purchased. Not all research on this, but I imagine that if you try to look up, the results will be biased. This is what I can think about Based on my knowledge. I am open to correction.

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