Why have bank takeovers halted?

chisueOctober 8, 2010

If there are so many mortgages in arrears or default, how are the banks holding the morgtages staying solvent?

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calirose

I'm curious too. could it be since there is no lending, that the foreclosed houses aren't selling? Also, rates are so low, to be tied up for such a long period of time - that and not knowing what is going to happen in DC could be part of it.

    Bookmark   October 10, 2010 at 12:11PM
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chisue

calirose -- There's more on this on the "Buying and Selling Homes" forum. Looks like banks are not reporting the defaults; not taking possession of homes they can't sell on which they'd then be responsible for RE taxes and maintenance. There's also probably a big obfuscation of who owns the mortgages -- some bankrupt Wall Street firm, or...the Feds, AKA you and me.

    Bookmark   October 10, 2010 at 2:36PM
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calirose

What a mess! More on foreclosures and MERS a recording company for banks and mortgage companies.

http://www.usatoday.com/money/economy/housing/2010-10-11-foreclosures11_CV_N.htm

Here is a link that might be useful: USA today-foreclosures

    Bookmark   October 11, 2010 at 10:35AM
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