Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis

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Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis
Anonymous Coward User ID: 1220899 United States 01/13/2011 12:43 PM Report Abusive Post Report Copyright Violation	Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis From the article This increases the risk that these borrowers will default on their mortgages either out of necessity—say as the result of a job loss—or out of choice, which is called strategic default as borrowers determine that there is little economic advantage to keep paying the mortgage. Longer delays in the foreclosure process further increase the incentive for a borrower to strategically default by extending the period of time that they can live “rent free” in the house. In addition, declining house prices increase the expected losses on those mortgages that do default. [link to problembanklist.com]

Anonymous Coward (OP) User ID: 1220899 United States 01/13/2011 12:46 PM Report Abusive Post Report Copyright Violation	Re: Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis quote The best scenario is that the disputes are deemed as legal technicalities, which would cause a one-year delay in foreclosures. In the medium case, years of litigation will ensue. In the worst case, the problem becomes systemic, causing “the mortgage market to grind to a halt as title insurers refuse to insure mortgages involving existing homes.”
Anonymous Coward (OP) User ID: 1220899 United States 01/13/2011 01:05 PM Report Abusive Post Report Copyright Violation	Re: Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis People think the economy is bad now, wait until this thing gets it's legs, it's the end of the current banking system that we now see.
Anonymous Coward User ID: 1054369 United States 01/13/2011 01:32 PM Report Abusive Post Report Copyright Violation	Re: Court Ruling Against Bank Foreclosures Could Spiral Into Full Blown Financial Crisis criminals in charge and paid patsies telling us its all ok. what do people expect. stop funding these assholes!

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