5. Banks have to foreclose on mortgages and take over the land/budling.
6. Meaning they are now the ones responsible for mowing the yard, keeping the building in good shape and of course pay any related taxes like property taxes.
The purpose of the DEM created liar loans; 1. Banks love them, they can loan more money.. 2. Dems love um so they can tell the poor , see we got you into a home; 3. Then when borrows can't make payments, like dems knew they couldn't. 4. Dems can blame the evil REP. & Banks for makeing preditory loans to unqualified borrows, the loans the dems forced the banks to make.
