This would mean an end to the 2+ year squatters that have become the norm – an end to “extend and pretend”. Banks would have to write down losses.
But how to stop this? Call the entire foreclosure process itself into question.[/quote]
Yep. Every time it looks like things might finally be getting back to normal (pre-bubble prices), a wrench is thrown in the works. Extend and pretend, at all costs.[/quote]
I’m curious… What does the “GSEs cracking down on delinquent loans” have to do with banks having to write down losses?
