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Tagged "Indymac Failure"

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Blog by Julie Emery

Amissville, Virginia

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Piedmont Real Estate Blog

Maybe More Banks Should Go Belly Up?

Jul. 15, 2008

Categorized in: Mortgages

Tagged with: federal regulators, foreclosures, government seizure, indymac, indymac failure

IndyMac was seized by federal regulators last weekend. They've just announced that they're stopping foreclosure on all their mortgages. This article in the Wall Street Journal details the takeover and this freeze.

Maybe we should be rooting for more banks to fail! If foreclosures fell significantly I suspect we'd see stabilization of home prices much more quickly.

If you're in trouble on your mortgage, start rooting for your bank to fail!

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