4.2 Million Homes Are In Foreclosure Limbo…Bad News Economy.

Posted: June 9, 2011 in News, Opinion
Tags:

“This actually is benefiting the banks, because they do not have to write them off as losses until after the homes  are put into foreclosure”

Most people read this story [Foreclosure limbo: Staying without paying.] and see it as people beating the banks for a short term period.  Many of them have, but i look at this information from the eyes of the rest of the economy.  What this really means is not only are these homes in limbo for the owners they are in limbo for the banks.  Until these court cases are settled and the homes are put properly into foreclosure they get to float on the market as statistical anomalies.  This actually is benefiting the banks, because they do not have to write them off as losses until after the homes  are put into foreclosure.  Image what kind of trouble these huge banks would be in with another 4.2 million write offs, you are looking at billions more in losses most likely.  THIS IS BAD FOR THE ECONOMY AND SHOULD BE STOPPED.

 

Comments
  1. […] finally HERE)  For TOO LONG Americans have stood by and watched as corporate and individual GREED took over the […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s