The cost of taking care of delinquent mortgages will likely be the next great issue lenders must take care of, according to the Wall Street Journal.
Although new measures have been taken to help borrowers secure mortgages, the cost of caring for those who fall into delinquency is continuing to rise. Lenders are left paying more than $2,300 each year servicing seriously delinquent mortgages, five times more than what it cost in 2008, and those numbers are going to continue to rise.
PB Topical Ref
