They are buying delinquent mortgages at pennies on the dollars, and if they can modify the mortgages to make a profit, good. If not, foreclose, and sell at a discount, but you still make a profit on it.
They are buying delinquent mortgages at pennies on the dollars, and if they can modify the mortgages to make a profit, good. If not, foreclose, and sell at a discount, but you still make a profit on it.