[quote=Diego Mamani]This is bad news! What we have here, essentially, are deadbeats (“FBs”) being protected by the courts based on a technicality.

[/quote]

actually what’s happened is the banks have damaged their security interests.

All it means is that this is now unsecured credit.
If people decalre bankruptcy they can do a
cramdown.

the foreeclosures aren’t worth much in most markets.