Search back on this blog and sites like 4Closurefraud.com and Foreclosurehamlet.com. We’ve been arguing for months now that the only legitimate response to the foreclosure crisis is a moratorium.
Our so called state and national “leaders” have not yet taken the chance to show real leadership and do such a thing, but the lenders that caused all this mess are implementing moratoriums on their own.
See the latest Wall Street Journal Article Here.
Type the word “Moratorium” on this blog and see how long I’ve been arguing for it. Now, when the title claims start rolling in. When the title underwriters cannot handle their claims. When the losses for the banks and insurors cannot be covered without a bailout, just calculate how many billions would have been saved if the moratorium would have been implemented back when we all started screaming for it.
Just something to think about.
