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07-23-2015, 10:53 PM #1
Reputation points: 10
- Join Date
- Jul 2015
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- 24
Help me understand defaults please
If people sign a guaranty or a COJ then why do lenders still want 1.5? I understand it is due to risk, but is there that much risk of not getting the money back? If someone defaults is it that difficult to collect? I had someone default recently and I'm wondering if it is really that hard to collect? Do most lenders get their money back? Or just give up and never try to get a judgement?
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