Professor Kurt Eggert was quoted by the Washington Post in an article entitled, “The Crisis and Your Pocketbook.”  In response to the question of whether lenders will hold on to foreclosures they own as they wait for the federal government’s bailout, Professor Eggert stated, “The government’s plan aside, it’s generally not in the lender’s interest to hang on to a foreclosure.”  He also explained, “Banks are not in the business of managing property.  They’re in the business of getting money back so they can lend it.”  Read article…

Professor Eggert was also quoted in related articles appearing in StarNewsOnline.com, “Answers on the Financial Crisis,” and Star Tribune, “Q&A: How Bailout Affects Consumers.“