The Real Reason Bank of America Halts Foreclosure In 50 States - They're Broke! | Buy Gold And Silver Safely: "I pointed this out February, 2010 in The Banking Crisis Is Far From Over Revisited – FDIC Troubles and Bank Shenanigans.
Banks Are Letting Non-Mortgage Paying Homeowners Live In Their House for Free
There are numerous people I know of that are living in the homes they bought and are underwater with their mortgage being worth more than their home.� They haven’t paid their mortgage in some cases for over a year.
Does anyone wonder how the homeowner can get away with this? Why aren’t they being kicked to the curb by the banks foreclosure unit?
The answer based on my research is simply that the bank cannot afford to mark that depreciated asset at current market prices for they risk falling under the threshold where the FDIC draws the line of solvency resulting in a take over of operations and the search for a more solvent bank to take them over."