Anybody ever see the movie, Bonnie and Clyde? The scene where a farmer losing his home to a bank? And Clyde hands the farmer his machine gun? And he lets loose on the "bank's" property.
I say load another clip and keep the pocket change. Its a depression and ammo is still pretty cheap.
What might be smart is for banks to take the initiative to renegotiate something that could work for both sides. Like maybe some sort of ARM, that equity in the place depends on payments vs money availability. Lender foreclosing blindly forces a loss to both sides - & borrower paying nothing - let alone trashing the place - does the same.
Problem is that any lender has to face the market, and answer to shareholders. Economics is classic case of what goes around, eventually comes around.
And the hottest chicks fuck the guys who are fast enough to get in and out of the way before the hammer comes around again - the guys who pee upstream & are fast enough they don't get caught.
Good friend of mine is in the home construction business. He tells me that it is not necessarily the foreclosed homeowners trashing their homes, it is the metals thieves tearing abandoned homes apart to get at the copper plumbing and electrical wiring to sell to scrap dealers. Seen the price of copper lately? Makes sense to me.
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