According to RealtyTrac.com there were an estimated 224,451
bank foreclosures in October. Many U.S. banks served foreclosure notices to delinquent home owners that were ninety days late on their mortgage payments. This made many home owners feel helpless, and disappointed that their own bank would not work with them to re-modify their delinquent mortgages.

This lead many banks to hold off on foreclosing on past due mortgages and take the extra step in reconfiguring delinquent mortgages so it would prevent a bank foreclosure all together.


In closing should banks wait for the next stimulus package to be approved by U.S. Congress or continue to hold off on bank foreclosures and reconfigure delinquent mortgages?

Remarks and Questions are always welcome.