From our Facebook: "I don't understand why mortgagees are allowed by law and by judges to tease borrowers along with a "trial payment" plan for a loan modification and then slam it shut and foreclose despite borrowers making all of their payments. That just seems to be a scam. The mortgagee is simply acting as a collector to get a few thousand dollars from the borrower while awaiting the inevitable foreclosure while the borrower is led to believe that those payments will lead to saving their home."
Email from listener William Eilers from Miami: "I have heard that one engine in the real estate boom is the number of bank owned properties not being put on the market in order to help the balance sheet of the bank and keep up capital requirements. To me this is a manufactured low inventory market due to not just underwater mortgages but also banks ensuring their own asset value. In my neighborhood there are at least 10 homes owned by the bank and not being sold."