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Loan Sharks Are More Reasonable
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Well, yes, technically, the bank does appear to have the right to foreclose on an operating gas station because the owner was one day late with his mortgage payment. But why are they rushing to foreclose, and why wouldn't they accept the late payment? Even the judge in the case doesn't understand why the bank is refusing payments and insisting on foreclosing; she's saying things like how the banks stance "blows (her) mind." Are they looking to collect on the mortgage insurance AND end up with the property? What's the motivation? (St. Petersburg Times; Thanks to Jeff Katz at WXKS (Talk 1200)/Boston for the link)
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