Foreclosure freeze conspiracy theory

[DWCAP]

[quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)

[sd_matt]

[quote=CA renter][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.[/quote]
We should start another thread with predictions for the next delay tactic and start a betting pool.

[sd_matt]

[quote=CA renter][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.[/quote]
We should start another thread with predictions for the next delay tactic and start a betting pool.

[sd_matt]

[quote=CA renter][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.[/quote]
We should start another thread with predictions for the next delay tactic and start a betting pool.

[sd_matt]

[quote=CA renter][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.[/quote]
We should start another thread with predictions for the next delay tactic and start a betting pool.

[sd_matt]

[quote=CA renter][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.[/quote]
We should start another thread with predictions for the next delay tactic and start a betting pool.

[CA renter]

[quote=DWCAP][quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)[/quote]

You are absolutely correct. That IS the plan.

[CA renter]

[quote=DWCAP][quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)[/quote]

You are absolutely correct. That IS the plan.

[CA renter]

[quote=DWCAP][quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)[/quote]

You are absolutely correct. That IS the plan.

[CA renter]

[quote=DWCAP][quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)[/quote]

You are absolutely correct. That IS the plan.

[CA renter]

[quote=DWCAP][quote=permabear]

But maybe we should just run out and buy new BMW’s instead.[/quote]

This is exactly what they (FED and fed’s) want. The whole point of all of this is to make cash so painful to hold, that you spend it. That spending will increase sales, increasing jobs, increasing incomes yada yada yada. I know it was just a flippent remark, but it really is true.

Better yet, what they really recomend, is that you buy your BMW’s on credit and minimal downs, and take a vacation, and upgrade your house and have a ‘lets splurge’ Christmas. Your savings will go alot farther, stimulate alot more, with the power of leverage. Plus this way it wont hurt too much cause credit is cheap.

Your flippent, off the cuff remark IS our current national financial plan.

(well, coupled with the fact that it makes our current sXit of of debt easier to carry, so we dont try to do something stupid like pay it off or default out of it.)[/quote]

You are absolutely correct. That IS the plan.

[davelj]

[quote=CA renter][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.[/quote]

I’m curious… What does the “GSEs cracking down on delinquent loans” have to do with banks having to write down losses?

[davelj]

[quote=CA renter][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.[/quote]

I’m curious… What does the “GSEs cracking down on delinquent loans” have to do with banks having to write down losses?

[davelj]

[quote=CA renter][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.[/quote]

I’m curious… What does the “GSEs cracking down on delinquent loans” have to do with banks having to write down losses?

[davelj]

[quote=CA renter][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.[/quote]

I’m curious… What does the “GSEs cracking down on delinquent loans” have to do with banks having to write down losses?

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