I believe it was very irresponsible of the FAR to post this article. It never mentioned other costs associated with foreclosures, ie: vandalism, electric bills, maintenance costs, water bills, attorneys fees etc. Also banks rarely go after homeowners for the deficiency. They file the judgment but never pursue it because guess what, it’s another expense. Do you really think the bank servicer is going to come out and say: “If we drag out these short sales for as long as possible we can keep collecting servicing fees from our investors.” Sounds like someone is trying to keep their REO business intact or the manager at the asset management company is full of crap.