More on the Forclosure Mess

Click on the title to link. This is a great article by Jim Jubak about the foreclosure fiasco with banks right now. Like we said before, it is going to be really interesting to see what comes of this. Just because B of A and GMAC pulled their "holds" on foreclosures today does not mean it is business as usual. This article does a good job of looking into the back end to show you the real problem at hand. Bank may be in big trouble. Of course, they are cash rich right now because they have been storing away the "stimulus" money they received instead of actually lending it out.