Comments on: Strategic Non-Foreclosure Becomes Official Policy

By: History Really Does Have Rhythm..D1 and D2 Dancing Together « Redhawk500's Blog

History Really Does Have Rhythm..D1 and D2 Dancing Together « Redhawk500's Blog — Wed, 24 Mar 2010 14:02:30 +0000

[...] left with lame programs, like this one announced yesterday by CitiMortgage. The so-called “strategic non-foreclosure” continues the “extend and pretend” policy that bank lenders have pursued over [...]

By: Holidays in Detroit at The Motor(less) City

Holidays in Detroit at The Motor(less) City — Wed, 24 Feb 2010 20:56:09 +0000

[...] Strategic Non-Foreclosure Becomes Official Policy [...]

By: Must Read Financial Posts This Week | FinancialMentor.Com

Must Read Financial Posts This Week | FinancialMentor.Com — Wed, 17 Feb 2010 17:32:50 +0000

[...] Barry Ritholz over at the Big Picture provides us with some insight explaining why all those delinquent homeowners that should be foreclosed remain in their homes. This brief post includes a fascinating chart showing just how much inventory the banks have yet to realize losses on (and the real estate market has yet to absorb). [...]

By: Realty News Now | The Coming Foreclosure and Commercial Real Estate Storms

Realty News Now | The Coming Foreclosure and Commercial Real Estate Storms — Sat, 13 Feb 2010 14:11:14 +0000

By: The Banksters Need You to Choose to Pay Them. So Don’t. « The Angry Future Expat

Fri, 12 Feb 2010 16:44:27 +0000

[...] the banksters need to deal with people. Take a look at this chart which is cited in a post over at The Big Picture and illustrates the growing wedge between defaults and [...]

By: changnao

changnao — Fri, 12 Feb 2010 04:28:18 +0000

What the frig. I do that already and you know what that’s called? RENTING! I’m tired of this subsidizing crap that renters are basically paying for these delinquents who were too stupid to realize they couldn’t afford the house they bought.

I knew that and I decided to rent instead. Looks like I could’ve just bought and got free house and rent instead. What utter BS.

By: denigod

denigod — Thu, 11 Feb 2010 19:28:36 +0000

This should be a huge red flag for anyone looking to buy a condo. This will really tie the HOA’s hands. They can no longer really place a lein against the property, because the homeowner who is clearly incapable of handling a financial burden is still the registered owner. So effectively the HOA loses the only real leverage they had to begin with. And I don’t know if this state can even be reflected in a resale certificate or the financials of the HOA, because the unit should show as non-delinquent, as the homeowners is supposed to stay current on their dues.

By: torrie-amos

torrie-amos — Thu, 11 Feb 2010 18:24:24 +0000

well, there you go, the banks are trying to save every friggin penney they can

either ben won’t be able to keep rates low all year, for arm resets, or when you got 3.5 million foreclosures up on board, saving every penney by extending and pretending becomes, well, rationale

quant easing ends march, homebuyers cash ends april, ohhhhhh, the drama

By: Thursday links: jobs, jobs, jobs Abnormal Returns

Thursday links: jobs, jobs, jobs Abnormal Returns — Thu, 11 Feb 2010 18:12:22 +0000

[...] Strategic non-foreclosure has become official policy. (Big Picture) [...]

By: How the Common Man Sees It

How the Common Man Sees It — Thu, 11 Feb 2010 16:47:27 +0000

November is going to be interesting. This will be the first time since the implosion that voters will really get the chance for revenge. I think they are going to speak very loud.

One quote that always intrigued me was when they were interviewing on why they decided to give Obama the prize before he had really done anything and the guy said something like, “If we had waited another three years it would have been too late.”

I think we are seeing now why he said that. He knew where we were heading (or more likely where they were steering us)