Cal Peterson's (homeport) Blog

An associate of mine sent me this article from Bloomberg.com.  This article is relevant to homeowner in Bellevue and the surrounding Puget Sound and Washington areas.  It details the financial losses Banks are taking with Short Sales and I think you will find the article informative.

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In the simplest meaning, asset-based lending is any kind of lending secured by an asset. This means, if the loan is not repaid, the asset is taken. In this sense, a mortgage is an example of an asset-backed loan.  http://en.wikipedia.org/wiki/Asset-based_lending