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What is the point of devoting hundred of millions of taxpayer dollars to foreclosure courts when the bottom line is the banks don’t want the property?

And just wait until the banks start dealing with the issue of rising insurance costs (Biggert Waters Flood) and the dramatically increased costs that come with insuring property that is being occupied by tenants.

Just wait.

The investor market for foreclosed homes was a balloon that popped.   The cash flow numbers didn’t make sense under the most rosy and delusional scenarios that were being used for a few months.  Just wait until the real math starts taking impact.

Again the question is…..

Why Are Florida Courts Forcing Foreclosures When The Banks Don’t Want Them?

Diana Olick @diana_olick 32m
47% of bank-owned homes nationwide are still occupied by the previous owner who was foreclosed on per @RealtyTrac

2 Comments

  • A.Putin says:

    useful Idiots

  • neidermeyer says:

    Minor point ,, insurance rates are higher on NON-occupied properties and the Biggert Waters rate hikes won’t affect the banks as they supposedly own the properties and don’t have a lien on them.

    I’d dispute that 47% stat also ,, I have my doubts .. I’ve seen plenty of properties where the bank/forecloser didn’t register the change in ownership after a win and a sale but I haven’t seen any where they just allowed the defendants to squat.

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