Agreed banks will always protect themselves and are certainly not charity organisations and I don't expect them to do anything else. In that light if owners are making all their payments it is NOT in anyway in the interest of the banks to foreclose. Sure if owners are having payment problems then foreclosure maybe swift and both the owner and the bank will be left holding outstanding debt which the owner is liable for but the bank may never recover.
"Despite, most mortgage loans being written out by the Big4 since the GFC, there are still numerous secondary and tertiary loans outstanding where lenders foreclose just after a month or two of failure to repay." Agreed but will only happen upon failure to repay NOT changes in asset values.
"Foreclosures will be fast and furious by the end of the 1Q 2010. Just around the corner." Sure whatever you say - I predict that one is going to bite you in the butt.
