WHY ARE BANKS GETTING FORECLOSURE JUDGMENTS THEN NOT SELLING THE HOMES?
The two excel spreadsheets come from my county’s foreclosure sales website. The first shows the results of all auctions 1/1/12 through 2/29/12; the second shows all upcoming auctions 3/18/12-4/30/12…both data sets show the banks taking the vast majority of the properties back, the banks bidding up the properties to far, far, far more than they are worth. Are the feds paying them to take properties back? Do the banks not want to report the real value of their mortgages? Right now they show the assets as the value of their judgments…if they put them all up for public sale would that force them to report the MASSIVE losses that are very much real, but hidden today? Why are the banks forcing people into the streets then not selling the properties?