Written by:
Ryan Shyu

A Little Bit of Good News

Contrary to what some people might think, lenders in our current economic environment don’t get a sick, sadistic pleasure out of foreclosures. A mortgage foreclosure leaves the lender with a house, which is a very undesirable asset to have given the current state of the housing market. Most firms would prefer any sort of cash flow to the house.

This has led to a rush of hiring in the mortgage-restructuring industry, as Kyle Stock writes here. This development goes to show that everything, even the subprime mortgage crisis, has a silver lining.

Photo courtesy of Flickr.