Drop in foreclosures called ‘very scary’

[Chomsky]

Re: Drop in foreclosures called ‘very scary’

Drop in foreclosures called ‘very scary’

A commenter to this thread on zerohedge notes:

An interesting issue has come up with regard to MBS. The Dayton Daily News reports that bank foreclosures have stopped. No, there are more and more homes in default, the banks have just stopped processing foreclosures.

What has happened? The banks sold all the paper to the greater fool a long time ago. Do the banks even have any interest in processing foreclosures since the paper is now owned by the government?

Will it be politically possible for the fed to foreclose on Fannie, Freddie, Ginnie, FHA debt? I see all the paper that the fed holds as garbage. Or the fed has to inflate the crap out of the currency?

[Chris Coles]

Re: Drop in foreclosures called ‘very scary’

A commenter to this thread on zerohedge notes:

Or, taking Wriggly's point above, perhaps the best way out for the Fed is the classic one for many a business over the years, strike a match and run.........