[quote=SD Realtor]Conveniently omitted is that it now can take up to 300 days to foreclose, that the GSEs are also rewarding every step any lender takes to rewrite loans or sell short rather then foreclose, and oh yeah let’s see who the new president is next year. [/quote]

The lenders are not going to voluntarily take hair cuts because that will immediately impact their profitability which inturn could cause a run on their stock and that means the company is in much bigger problems. Therefore the bailout bill is not as going to do much!