Okay, I checked out Bloomberg and I just couldn't find any new "foreclosure freeze" stuff. So I zipped over to CNNMoney.com, and...nothing...nada.
So, what's up?
Bank of America has told us they're going to resume with the foreclosure's and why not. Here's a question I would like someone to answer for me that I can't find any data on.
Of all the foreclosures filed, how many go unopposed?
Even in a judicial state, such as Florida, if you don't go to the hearing(s) and oppose the action than the summary judgement will be granted. So
It won't matter what the documents do or don't say, or who did or didn't sign them, right?
Now if that's the case why wouldn't the banks/investors proceed.
I mean if someone at the olde foreclosure factory pointed out that 60-70-80% or more of the actions are not challenged, than shouldn't we just get on with it, and get these
out of the way.
We'll just remove the challenges from the dockets, and we'll allow mediation, and possibly do some actual modifications. We'll play those up real big in the press, as to how we are sympathetic, and working with the homeowners and
we'll just foreclose on the rest.
In the area where I live I heard they just conducted
They just cleared the docket of any challengers and
through the rest. Now let's get this straight
Homeowners do have a right not to challenge the proceedings.
So just maybe,
if we stop talking about it, we can get on with the foreclosures and the problems will
just go away