re: #349 albusteve

of course they don’t want to foreclose…the issue here is that they are going to and to rake in as much cash as they can before that happens, if it does

Doesn’t seem to be very true around here. The banks seem more interested in getting the properties off their books as quickly as possible. Right now, foreclosures are running around a quarter to a third of market value for the same house a year ago, which is still far below market value today for non-foreclosed properties. They don’t seem to be trying to maximize profits.