Quote:
Originally Posted by calgarygeologist
Is it really a cost to the tax payers though. Shouldn't all of the money be returned to the Government in the end plus interest. Maybe in the case of opportunity cost.
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Making high loan to value second mortgages is something where you should expect high loan losses that you are not able to recover from foreclosures.
There is a reason all those Aaron Acceptance type places charge like 16%...