Trickledown Tarp money at work

[jpinpb]

if they turn over the deed to their property.

So the bank takes possession after six months, bypassing the expensive foreclosure process, basically. I can see other banks doing this, too. So we are kicking the can another six months, but in the end, the bank’s still going to end up listing the place for sale and/or rent it out. Maybe that’ll be the new business for banks. Landlords for however many years until the market turns around. It’s either that, or a whole lot of inventory finally making its way to market.

[Arraya]

This article contradicts itself. It says that this is for people who *choose* to default in one sentence than in another is says it for people who *don’t* qualify for a loan mod or short sale.

If somebody does not qualify for a loan modification they are probably not choosing to default.

Then it goes on to say how long it is taking to foreclose in some states and that it is expensive.

So what’s going on here?

It looks like basically the banks are weeding out the people that don’t have any money and kicking them out faster. hahaha

[Arraya]

This article contradicts itself. It says that this is for people who *choose* to default in one sentence than in another is says it for people who *don’t* qualify for a loan mod or short sale.

If somebody does not qualify for a loan modification they are probably not choosing to default.

Then it goes on to say how long it is taking to foreclose in some states and that it is expensive.

So what’s going on here?

It looks like basically the banks are weeding out the people that don’t have any money and kicking them out faster. hahaha

[Arraya]

This article contradicts itself. It says that this is for people who *choose* to default in one sentence than in another is says it for people who *don’t* qualify for a loan mod or short sale.

If somebody does not qualify for a loan modification they are probably not choosing to default.

Then it goes on to say how long it is taking to foreclose in some states and that it is expensive.

So what’s going on here?

It looks like basically the banks are weeding out the people that don’t have any money and kicking them out faster. hahaha

[Arraya]

This article contradicts itself. It says that this is for people who *choose* to default in one sentence than in another is says it for people who *don’t* qualify for a loan mod or short sale.

If somebody does not qualify for a loan modification they are probably not choosing to default.

Then it goes on to say how long it is taking to foreclose in some states and that it is expensive.

So what’s going on here?

It looks like basically the banks are weeding out the people that don’t have any money and kicking them out faster. hahaha

[Arraya]

This article contradicts itself. It says that this is for people who *choose* to default in one sentence than in another is says it for people who *don’t* qualify for a loan mod or short sale.

If somebody does not qualify for a loan modification they are probably not choosing to default.

Then it goes on to say how long it is taking to foreclose in some states and that it is expensive.

So what’s going on here?

It looks like basically the banks are weeding out the people that don’t have any money and kicking them out faster. hahaha

[sdduuuude]

Seems like a reasonable idea to me. It’s a little slow, but accomplishes what needs to be accomplished at a pretty low cost without requiring additional bank staff. It either means inventory will eventually hit the housing resale market -or- inventory will hit the rental market. Either way, that’s downward price pressure on housing.

[sdduuuude]

Seems like a reasonable idea to me. It’s a little slow, but accomplishes what needs to be accomplished at a pretty low cost without requiring additional bank staff. It either means inventory will eventually hit the housing resale market -or- inventory will hit the rental market. Either way, that’s downward price pressure on housing.

[sdduuuude]

Seems like a reasonable idea to me. It’s a little slow, but accomplishes what needs to be accomplished at a pretty low cost without requiring additional bank staff. It either means inventory will eventually hit the housing resale market -or- inventory will hit the rental market. Either way, that’s downward price pressure on housing.

[sdduuuude]

Seems like a reasonable idea to me. It’s a little slow, but accomplishes what needs to be accomplished at a pretty low cost without requiring additional bank staff. It either means inventory will eventually hit the housing resale market -or- inventory will hit the rental market. Either way, that’s downward price pressure on housing.

[sdduuuude]

Seems like a reasonable idea to me. It’s a little slow, but accomplishes what needs to be accomplished at a pretty low cost without requiring additional bank staff. It either means inventory will eventually hit the housing resale market -or- inventory will hit the rental market. Either way, that’s downward price pressure on housing.

[sdduuuude]

Ya, good point, Arraya. I guess the question is – if I’m going to default, why not jsut stop making payments, not tell the bank, and live rent-free for 12 months instead of 6 ?

[sdduuuude]

Ya, good point, Arraya. I guess the question is – if I’m going to default, why not jsut stop making payments, not tell the bank, and live rent-free for 12 months instead of 6 ?

[sdduuuude]

Ya, good point, Arraya. I guess the question is – if I’m going to default, why not jsut stop making payments, not tell the bank, and live rent-free for 12 months instead of 6 ?

[sdduuuude]

Ya, good point, Arraya. I guess the question is – if I’m going to default, why not jsut stop making payments, not tell the bank, and live rent-free for 12 months instead of 6 ?

[Author]

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