At 04:10 PM 1/31/2009, Tom Piwowar wrote: >Interesting point. If that is the case why does an income-producing >property go into foreclosure? Did all of the tennants in these areas get >whiped out in a cataclysm that the government is keeping secret? >Something else must have happened to cause this sequence of events. What?
Just speculating, but tenant's leases are generally a year to a few years. When the market drops, they can insist on lower rent or move to a cheaper place. The market rent of today may not cover the mortgage payment of yesterday's mortgage, especially if the mortgage has "reset." ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
