Mortgage foreclosure is a legal process that takes a very long time and is very expensive.

mbrameld 4 hours ago | parent | next [-]

It doesn't take years, and it's less expensive than writing off the mortgage.

groby_b 4 hours ago | parent | prev [-]

Banks are perfectly well equipped to foreclose on you. Ask anybody who was around in 2008.

You don't usually skate by on years of non-payments, so I'd sticker the original claim with [citation needed]

Don't know if this is what the OP is referring to, but: https://archive.is/2EObp

sounds like a very similar thing.

This would seem to indicate that Covid forbearances are extending into 2026: https://www.hud.gov/sites/dfiles/SFH/documents/SFH_FHA_INFO_...

	▲	linuxftw 4 hours ago \| parent [-]
		Yeah, those are some of the programs I was referring to. The 'loophole' aspect that was mentioned on the podcast is that when the FHA does the 'loss mitigation' (aka, refi's the loan), there is not any kind of qualification as to whether the buyer will ever be able to make a payment on the new loan. It's just approved anyway, and the cycle can happen unlimited times. I think they're looking at adding a means test, but I'm unsure.