They give notice to the homeowner. The only instance where I could even see this possible is through the various HUD and voluntary moratoriums on foreclosures. But those were all temporary and homeowners still had the option to voluntarily hand over the home in a pre-foreclosure sale.
Again, banks are backed by investors. Banks want a clear title with no liens in order to ensure payment from the investor. I can't imagine the scenario where a bank is willing to take a total loss with no reimbursement from the investor. I can imagine that during a moratorium, the homeowner by design still owns the home and is responsible for it. If homeowners abandoned their responsibility and did not take measures to hand over the home, I could see more fines or penalties being incurred. But even still, as soon as the moratorium is lifted, the bank will do everything to get clear title to get their money back.
This is not an issue for the banks, but for institutions like HUD, Fannie, Freddie, Ginnie.
You know what would have been great in any of these articles?
One mentions "thousands" out of 10 million. But neither mention any banks or mortgage companies, any explanation of any status, or any statement from any financial institution that might be responsible for any wrong doing. Just because someone claims you owe something, does not mean it is legally true. Wouldn't be the first time alarmist and shaky journalism has tried to spread fear.
See, mortgages don't just float in space. They are all backed in some regard. FHA, VA, or Conventional. Backing risky loans was the problem with the housing bubble. Yes people are responsible for their own debt, but when they default, there is another shoe that falls when those backing the loan still insure the borrowed amount. Title ownership is a secondary matter. Clear title and ownership can happen regardless of foreclosure.
Also, there was a foreclosure moratorium. Where banks could not foreclose. If someone abandoned a property or a foreclosure process had started, but the bank was forced to halt it, it is not the responsibility of the banks for this delayed (maybe indefinitely) proceeding. It is the fault of the government policy that forced this.
And most of the time, if the homeowners had taken responsible measure to attempt to Short Sale or Dee in Lieu, they would have been better off. There still may be rare occasions where this could happen and while the borrower can be pursued, ultimately falls on the lender and the insurer of the loan.
Specifics are possible. They tracked down someone claiming it happened to them. Follow that up.
If there is no way to know, then how can they report it happening? And in the "thousands"? I swear journalism has become a place where internet forum dwellers go to write their own story regardless of facts.
Of course you don't care. You just mindlessly copy and paste whatever makes you feel better about your own positions regardless if it has any merit or not. But when you start doing this as part of publications, it sways people like you en masse to hate people and institutions for very shaky reasons.
If the bank told me they were taking my house, kicked me out, then I was served me bills for that house, no force on Earth would prize that money from my hands.
At this point I think it would be best to simply liquidate all banks and found new ones, making it illegal for anyone who has worked in banking in the past from doing so again. We can't let the same people continue to screw us over like this. They have so much power and have proven categorically that on no accounts should they be allowed to have it any more.
But that was an unfocussed mishmash of fucktards with no clear idea of what they were really rioting about. Some claimed it was because the police shot Mark Duggan. Some wanted to stick it to the police for whatever reason. Some were just looking for an excuse to smash shop windows and steal trainers and ipads innit.
It was a moment of anger and frustration, but come on, there are people up those chains who continue to make the same devastating mistakes over and over again that affect everyone, and they never lose their homes or their jobs.