Good luck getting a home loan if banks can’t foreclose.
‘Good luck getting a home loan if banks can’t foreclose.”
Lots of people are cheering these types of decisions. I can only see difficult times with the mortgage industry and loan availability. Effectively, individuals living in the homes are squatting, taking the property of the note holders without any compensation for note holders. We have had plenty of economic downturns and housing market slumps. Federal and state governments have never intervened to much extent until the current slump. The housing and mortgage industry face a grave threat of a moral hazzard.