kev374 – thanks for the link. It’s about friggin’ time!
Some 37% have not made a payment in more than two years, while another 34% have not made a payment in 12 to 23 months, according to Lender Processing Services.
Now that the banks got their money via taxpayers, now they’ll foreclose on people.
“Loans enter into foreclosure, but never come out,” said Thomas Lawler, founder of Lawler Economic & Housing Consulting. “If this keeps going on, you have a continual overhang that never goes away.”
I think CAR mentioned something like that.
Since the housing crisis began, several experts cautioned that foreclosure prevention efforts may only prolong the pain.
