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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 413.18

+1.1%

Jan 6 4:00 PM EST

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To: Maurice Winn who wrote (71156)	2/22/2011 9:56:19 PM
From: Ilaine	Read Replies (1) of 219079

>>Surely it's better for the banks to foreclose quickly and get the property sold or rented to get some money back into action. Well, apparently they don't agree. I have literally dozens of clients in this situation and I am not at all the biggest bankruptcy lawyer in these here parts. My guess is that it has something to do with bank regulation, accounting, as long as they don't have to show the loans as non-performing they are ahead in some part of the game? Also, the person who owns the property has to pay property tax and homeowner's association dues. Also, if the banks foreclose on all non-performing loans, en masse, the property values will plummet. We call it "shadow inventory."

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