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Banks are unable to foreclose on bankrupt firms.
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Mr. Rogers said it often took far longer to foreclose on properties in states like Florida, Nevada and Michigan.
But banks still are slow to foreclose on delinquent homeowners.
"Hopefully, no one will have to foreclose on it," he said.
Carlyle Capital said it was unable to pay the margin calls, so its lenders had proceeded to foreclose on the mortgage-backed securities collateral.
Soon afterward, the state Dormitory Authority, one of its main creditors, moved to foreclose on the hospital.
We really haven't had to foreclose on a lot of assets; this is the only one.
Chinese banks, in turn, are slow to foreclose on developers.
Lenders of all stripes clearly prefer to foreclose on delinquent borrowers.
One option would be for the board to foreclose on the units of the defaulting owners.
When the bank comes to foreclose on your castle, run and find your dad.
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