It's axiomatic that credit unions and other mortgage lenders don't want to foreclose on houses. They are not in the real estate business.
All credit unions that originate mortgages should have at least a procedure in place for what do when some or most of those mortgage borrowers get into trouble with their loans.
LAS VEGAS -- The economic downturn has forced many credit unions to take a more "real world" approach to their mortgage lending.
LAS VEGAS -- Two executives whose credit unions have been hit hardest by the mortgage crisis shared some of their wisdom about mortgage loss mitigation.