[quote=SD Realtor]Bearish lenders are not coming to any conclusion in my opinion. They have already won the war. What they do not get from homeowners they will get from taxpayers. So why would they foreclose. The govt has already cowed to the lenders and will lend them as much money as they need.[/quote]
So, I guess this “free bailout” on behalf of the “govt” has indirectly allowed squatters a “free pass” to “squat” as long as they can get away with due to failure of their lender to exercise their timely right to non-judicial foreclosure.
Assuming arguendo you’re right, SDR, I don’t condone this practice as the “squatters” will get theirs (in the form of plunging FICO scores) and their subsequent INABILITY to obtain FF-backed mortgages for SEVEN YEARS after they’re finally thrown out on their EARS.
If these “squatters” were smart, they would have saved a small fortune during their period of “reduced living expense” but, alas, most won’t be able to.
I am in hopes that the affected lenders can see their way clear to accelerate this process as this would help us ALL :=]
