How Big Are The Sub-Prime Losses?

Take the case of a single repossessed property in Ramona California. A buyer bid $410,000 to the bank for this property.. The bank in question declined his offer... He merely had a revaluation done by a local agent, and resubmitted.. The second time around, the bank accepted it. The debt they were still owed on the property was no less than $580,000.

Posted on The Tap Blog.