I understand your point. We have a difference in opinion then.

To apply my arguement to a fifty year search, well isn't that what those pesky letters of indemnity are being used for? Check for the previous underwriter's stamp and end the search.

As far as "letting the chips fall" where they may, I believe that is exactly what the major underwriters are doing. I'll use my old arguement on you, if I give you 7 billion dollars and only ask for 2 billion back, would you take it? Underwriters shamefully now accept a large degree of claims in their business models.

My arguement isn't Political, it's common sense and frustration. I like to think about it simplistically. If the debtor hasn't paid, they should get out, immediately. Drawing a foreclosure out for two years is ridiculous. It's this kind of bureaocracy that is keeping the housing market at the bottom. What if you were holding that note personally? Is two years of no income on that property acceptable to you?