This is more about attorneys trying to turn a profit and in their wake destroy an industry.
If banks can’t foreclose, they will stop lending altogether, because they have no way of recovering their collateral.
And if people realize there banks won’t foreclose, even those who can make their payments will stop making them, that will really destroy the banks, and then the FDIC will have to come it and take them all over, using taxpayer money. It’s going to be a complete disaster for everyone.
It might well turn out that way. In normal, just times, I'd argue for people to make good on their commitments. But these aren't just times. Government and banks have distorted justice and left the people holding the bag. I can't fault people for putting their own interests first these days. That thinking collectively may doom us all, but in that case you don't want to be the last one out the door.