Now I'm really confused. Previously I've read that the banks foreclose sooner on the smaller mortgages because they can pretend that the big upside-down mortgages are really assets to satisfy their reserve requirements.So, am I understanding correctly, that the banks' best gold mines using this scheme, are the properties that are the most upside-down?
And are properties 'safer' from a fast foreclosure, and not the low-hanging fruit, if the note is closer to the real market value, thus not a whole lot of money to make for the bank?
Not your question. I'm genuinely confused by what the banks do Hope this link works, it shows that in recent history that banks foreclose on the small ones first. Foreclosure Roulette Revisited | ForeclosureTruth | Foreclosure News, Opinions and AnalysisPlease don't be confused by my question, I'm a greenhorn, new at all this, with a fico score of 820 before yesterday, just trying to translate the crookedness and trying to figure out what a criminal bank mind would do if in the bank's position.