October 21, 2009
.....But the speed and silence with which many went under is worrying to lenders, who historically have managed default risk by closely monitoring delinquencies.
However, some borrowers refuse to telegraph their distress before they throw in the towel. "They pay and pay and pay," Mr. Phelan said, "and then they file for bankruptcy.".....
However, some borrowers refuse to telegraph their distress before they throw in the towel. "They pay and pay and pay," Mr. Phelan said, "and then they file for bankruptcy.".....
