4 ms·
I don't think that's correct. IIUC, the lender who sells the debt takes a loss, but the amount of debt owed by the borrower remains the same.
by CoastalCoder 4y ago
I don't think that's correct.
IIUC, the lender who sells the debt takes a loss, but the amount of debt owed by the borrower remains the same.
- __derek__ 4y agoI was being cheeky. The people who took out these mortgages are paying a rate well below market-rate. They won in the sense that they're paying less to service the debt than the lender is paying to carry the mortgage.