appone

Fannie / Freddie - What Does Treasury Know?

"Mortgage walking" (the act of refusing to pay the mortgage by people who can afford to do it) is becoming an epidemic. The lender's are more or less powerless if one refuses to pay. There is such a backlog in the foreclosure filing pipeline that it takes about 2 years to foreclose in some areas like Miami. A strong foreclosure defense, now facilitated by an entire army of attorneys which are seeing this as a new revenue source, could extend the process to over 4 years, and maybe, avoid foreclosure completely. A popular revolt has started with an act of civil disobedience; and that is "mortgage walking".
It may be that the only way to stop this is for the government to inflate the housing market.

Are Big Banks Too Big to Fail?

Simple, and to the point. Unfortunately, the government likes big institutions and the trend appears to favor the same.