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[my beautiful idiot]

http://www.huffingtonpost.com/2010/12/08/homeowners-wrongfully-foreclosed-upon_n_794194.html

Well isn't that just lovely.

[CeeGBee]

This may actually turn out to be a good thing in the long run.  (It'd still suck if it happened to you.)

On the one hand, we have people who really are behind on their mortgages, and who
want their banks to adjust the payments and terms, but the banks have no desire to
work with them, despite the government trying to encourage such adjustments....

On the other, you have waves and waves of banks carrying out unsupportable foreclosure
attempts, and if it happens often enough, courts are going to stop passing them through
like traffic tickets and really read the papers and ask questions....  and the cost of going
through a foreclosure will go waaaay up.....

Combined with a clear tendency of foreclosed properties to plummet in value as their condition
deteriorates (weather, lack of maintenance, vandalism, theft...), all this will make foreclosure
less and less appealing as a business practice.