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Home › Forums › Housing › Foreclosure freeze conspiracy theory › permabear wrote:Back on the

October 5, 2010 at 2:27 AM #613403
CA renter
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[quote=permabear]Back on the original topic, it definitely sounds like the banks themselves have thrown the game.

Related to the “Wells will dump soon” thread, it’s the GSE’s that are supposedly cracking down on delinquent loans:

http://www.dsnews.com/articles/wells-fargo-puts-stop-to-short-sale-extensions-2010-10-01
http://www.dsnews.com/articles/fannie-mae-says-foreclosure-delays-represent-breach-by-servicer-2010-09-02

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.