[quote]From June 2008 to June 2009, the number of American mortgages that were 90 days or more delinquent soared from 1.8 million to nearly 3 million, according to the realty research company First American Core Logic. During that period, the number of loans that resulted in the bank taking ownership of the home declined to 245,000, from 333,000. [/quote]
It would be interesting to find out if the reason that fewer houses were ending in foreclosure was because more were short selling, being refi’d, or just ignored by the banks who refuse to foreclose. I know they allude to the idea that banks are just trying to wait this out (Thanks to your tax dollars BTW) when they add
[quote]The company has been waiting and hoping the economy will improve and delinquent customers will resume making payments[/quote]
but I wonder if that is what they are actually doing. I really suspect they just dont wanna take the losses, and with mark to fantasy accounting, then can wait.
And why are they ‘traitors’? Have they sold inside knowledge to some foreign country or something? Are they plotting to overthrow the governement? Are they breaking any laws, anywhere? The only way they could be ‘traitors’ is if you somehow equate refiing loans for deliquent borrowers with the national good. I wouldnt agree with that, because what the government is doing right now is pretty much against every American ethos I knew of until 2008.
