2008-07-08wsj.com

In markets hit hardest by falling home prices and rising foreclosures, lenders and brokers are discovering a new phenomenon: the "buy and bail," in which borrowers with good credit buy a new home -- often at a much lower price -- then bail out of the "upside down" mortgage on their first home.


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread