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Home 24 Jan 2009 What is a Workout? Money A friend asked: Apparently the mortgage holders today are not the loan originators and therefore have little incentive to deal, or should I say workout, one-one with consumers. Can [someone] provide some comments on workout to help clarify the concept? Workouts are a normal part of bank lending, because foreclosing (or the equivalent) is very expensive, and the bank is often better off agreeing to a smaller or longer loan and actually getting paid. See more ... posted at: 13:40 :: permanent link to this entry :: 0 comments Trackback link is http://weblog.johnlevine.com/Money/workout.trackback

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