They are trying to convince the public that the moratorium is bad for the taxpayers.
It simply IS NOT TRUE.
They are blaming the homeowners AGAIN. SHE IS ACTUALLY SAYING THAT THESE FORECLOSURES ARE VALID.
If the banks do modifications everyone wins. If they don't everyone loses its that simply. "Letting the foreclosures happen" will further devalue the market for homeowners who are not presently in trouble, so they too will have to foreclose, the decline will become so horrendous that a full depression may be the end result.
No one is talking about the real issue. The banks need to cut their losses and give the modifications which will stop the foreclosures not pick up speed or slow down the speed of the foreclosure.......
the modifications if done, will save the market. Nothing short of that will.
But I just don't think it is going to happen.