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negative equity: Will Halting Foreclosures Fix The Economy?
- 10/13/10 02:35 PM
I doubt it. The way I see it, a temporary moratorium on foreclosures, like the one recently implemented by Bank of America, will only delay the inevitable. It's like removing a band-aid: whether you rip it off swiftly, with full force, or gently, slowly, and little by little, it still hurts.
Recent allegations that Bank of America utilized 'robo-signing' on foreclosure documents to commit fraud and forgery caused the second largest bank in the country to throw out the white flag and halt foreclosure proceedings until it can accurately assess its policy and procedure related to proper foreclosure documentation.
Additionally, … (6 comments)
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I doubt it. The way I see it, a temporary moratorium on foreclosures, like the one recently implemented by Bank of America, will only delay the inevitable. It's like removing a band-aid: whether you rip it off swiftly, with full force, or gently, slowly, and little by little, it still hurts.
;)
;)
