No Cure For Cure Rates

Not a lot of time to post. Getting caught up on work after and extended weekend and out all day tomorrow. Nonetheless, I saw this piece on cure rates on mortgage delinquencies being in the dumper, as in getting worse, and I thought it was worth passing on. Another key point to the post is that it seems banks are not foreclosing on the delinquent at the rates they were a few months ago. This does not bode well for the future.

http://www.nakedcapitalism.com/2009/08/banks-sitting-on-bad-mortgages-and-they.html

Disclosures: None.