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Reply #46: Saying that banks will call in your mortgage loan is a straight up untruth [View All]

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EvolveOrConvolve Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-09-08 03:56 PM
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46. Saying that banks will call in your mortgage loan is a straight up untruth
With the real estate market in the crapper, banks will call in other, more liquid, debts before they ever seize your house that is providing them with one of their only reliable sources of revenue. Seizing an unsellable property and calling in a debt that the consumer can't pay is something that banks will not be doing anytime soon, especially when they already have a huge inventory of foreclosure homes that they can't unload because they're worth far less than what's owed on the note.
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