patrick.net

http://ochousingnews.com/blog/changing-loss-recognition-rules-restore-lender-solvency/

Why have lenders permitted millions of delinquent borrowers to squat for years? Why haven’t they processed foreclosures in a timely manner and recycled much-needed supply back into the housing market? The short answer is because processing foreclosures forces them to recognize losses they can’t afford to take, but what if that wasn’t their only alternative?

Source: http://ochousingnews.com/blog/changing-loss-recognition-rules-restore-lender-solvency/#ixzz3AkRxkZVm

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