Mortgage Companies are rushing to complete foreclosures. Why? Aren't there enough houses on the market?Practically, they don't care if people stay in the house (they can't sell the house anyway, it lowers vandalism, and there is less risk or damage if the house looses heat). So homeowners are becoming mortgage squatters.
Why are Banks rushing to complete foreclosures? Is it because in this age of layoffs, that this is one area that they can still generate fees, or does it have something to do with getting paid with TARP funds?
Regardless, once the Treasury buys these troubled assets, then the Government will have to evict the homeowners!!!! I suspect the Treasury won't have the stamina to evict, particularly when homeowners realize that Treasury used their tax dollars to bail out Banks, they will continue to squat in the home, free. Will the Treasury examine each homeowner on case by case basis? (a Herculean task). A better alternative is the Housing Protection Plan at http://charlienospam.blogspot.com/
No comments:
Post a Comment