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Originally Posted by mikejr
not a bad rate on a truck, thats a long time to be paying for it though. wow.
I just say an article in our Realtor trade mag that said the foreclosure rate on one particular type of loan is 14%, how can these companies that lend money and take these hits stay in business.....i think it goes to show you just how much money the banks are making!
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14% is low for these lenders. They get a good percentage of their money back through the forclosure process and they need the remaining losses for Uncle Sam on the rest, anyway.