Saturday, December 1, 2012

Foreclosure wave

"First of all, we aren’t seeing a “foreclosure wave” because mortgage servicers still don’t have the capacity for mass foreclosures above and beyond their current pace. Aside from them not hiring enough specialists, many states responded to the crisis and the foreclosure fraud scandal by passing their own due process laws designed to stop illegal foreclosures. The industry calls these states dirty names, but they happen to be the REASON for the lack of a foreclosure wave."

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