Quote:
Originally Posted by fjon
The lenders ran the economy into the ground. Those that held the mortgages they made, also hold the title and can therefore prove their right to the property in question. Thousands, maybe 10's of thousands of folks just quit paying and haven't been evicted because the banks don't want the properties, they want the income stream. And in many cases, foreclosures have failed because no one can find who holds the title. The moronic end to criminal feeding frenzy.
The next deflationary shoe is already dropping and will continue well into 2011 as the option arm mortgage resets really hit their stride. All, of course, just IMHO.  |
I agree completely the deflation will continue for the next few years, its in the cards already, the hands have already been dealt out!
I can't agree with you that lenders are totally to blame, though of course they shoulder much of the responsibility. It takes two to enter into a transaction like that - a borrower and a lender.