"The housing market would seize up" if foreclosure sales are put on hold, he said, "all to allow delinquent borrowers to stay in homes they cannot afford."
Who wins if foreclosures halted? →
If another moratorium becomes a "Get out of jail free card" enabling delinquent homeowners to stay in their homes rent-free, that will only encourage other "underwater" borrowers to default and compound the crisis, he said.
Be the first to know