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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (138349)8/1/2008 11:20:48 AM
From: ChanceIsRead Replies (2) of 306849
 
>>>the delay in foreclosures and the delay in recognition of losses<<<

This has gotten some discussion here, but I see the foreclosure delay as more of a deliberate action on the lenders' part. For sure the courthouses are jammed and foreclosure timelines may be well out of the lenders' control.

However until they take some action, those bad loans stay on the balance sheet as an asset - probably at nominal/origination value. We see that the SEC just delayed a proposed FASB mark-to-market accounting rule. One wonders if the motivation behind the new housing bill is more to delay the revelation of the true debt/equity ratios of the banks vice any benefit to the defaulted homeowner.

Gummnt doesn't want more IndyMacs. At least not until the November elections.
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