[Gorzaloon]

It is obviously less expensive to have the borrowers continue to service the loan even at a slight loss to the mortgage holder than it is to foreclose and take control of a property that is worth significantly less than they loaned against it.

Are even the teaser rates a loss? I doubt it. What were the intro rates?

[DB]

I don’t know.

But even a mild loss is better than a big loss.