--- title: "Meaning & Key Takeaway of: It's time to pull the bandage off…" description: "\"It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon..." image: "https://sms4smile.com/quotes/i/a3f/mark-zandi-12567_accelerate_it-s-time-to-pull-the-bandage-off-americ_2788496.png" --- # It's time to pull the bandage off America's foreclosure… ![“It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating…” quote by Mark Zandi](https://sms4smile.com/quotes/i/a3f/mark-zandi-12567_accelerate_it-s-time-to-pull-the-bandage-off-americ_2788496.png) [Download](https://sms4smile.com/quotes/i/a3f/mark-zandi-12567_accelerate_it-s-time-to-pull-the-bandage-off-americ_2788496.png) [Open image](https://sms4smile.com/quotes/i/a3f/mark-zandi-12567_accelerate_it-s-time-to-pull-the-bandage-off-americ_2788496.png) > “It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.” [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Accelerating foreclosure resolutions is essential for economic recovery. **In simple terms:** Speed up foreclosures to revive economy. Key Takeaway Prioritize swift foreclosure solutions. Themes economy foreclosure recovery Mood urgent concerned Type analytical policy‑focused When to use this quote - banking - legislation - community assistance Key Concepts financial policy housing market Questions to Reflect On - What policies can expedite foreclosure processes? - How can communities support affected homeowners? A Different Perspective Political resistance can delay reforms. ★ ★ ★ ★ ★ No ratings yet [America](https://sms4smile.com/quotes/about/america/) [Crisis](https://sms4smile.com/quotes/about/crisis/) [Customer](https://sms4smile.com/quotes/about/customer/) [Dark](https://sms4smile.com/quotes/about/dark/) [Economy](https://sms4smile.com/quotes/about/economy/) [Foreclosure](https://sms4smile.com/quotes/about/foreclosure/) [Home](https://sms4smile.com/quotes/about/home/) [Loans](https://sms4smile.com/quotes/about/loans/) [Problem](https://sms4smile.com/quotes/about/problem/) [Resolution](https://sms4smile.com/quotes/about/resolution/) [Speed](https://sms4smile.com/quotes/about/speed/) [Time](https://sms4smile.com/quotes/about/time/) ## Related quotes > [Well, actually, if you can stay in your home that is a better deal for the neighborhood. It's certainly a better deal for the…](https://sms4smile.com/quotes/john-garamendi/well-actually-if-you-can-stay-in-your-home-that-is-a-better-deal-for/) [John Garamendi](https://sms4smile.com/quotes/author/john-garamendi/) > [The key to house prices is the share of foreclosure or short sales in the total housing market. When that share rises, house prices…](https://sms4smile.com/quotes/mark-zandi/the-key-to-house-prices-is-the-share-of-foreclosure-or-short-sales-in/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the…](https://sms4smile.com/quotes/mark-zandi/indeed-the-fha-was-born-out-of-the-great-depression-which-was-also/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Don't try to stop the foreclosure process. Let it run its course and hit the bottom.](https://sms4smile.com/quotes/mitt-romney/don-t-try-to-stop-the-foreclosure-process-let-it-run-its-course-and/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [In the press, it has been said that I ran a foreclosure machine.](https://sms4smile.com/quotes/steve-mnuchin/in-the-press-it-has-been-said-that-i-ran-a-foreclosure-machine/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Foreclosure is nothing new. And it certainly will always be a fact of life for some.](https://sms4smile.com/quotes/lisa-madigan/foreclosure-is-nothing-new-and-it-certainly-will-always-be-a-fact-of/) [Lisa Madigan](https://sms4smile.com/quotes/author/lisa-madigan/) > [After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed…](https://sms4smile.com/quotes/thomas-sowell/after-the-risky-mortgage-lending-practices-fostered-by-government/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.](https://sms4smile.com/quotes/ben-bernanke/while-rising-delinquencies-and-foreclosures-will-continue-to-weigh/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [People want what they want. And I guess that is a reason we have this big credit card problem and a lot of these…](https://sms4smile.com/quotes/chris-rock/people-want-what-they-want-and-i-guess-that-is-a-reason-we-have-this/) [Chris Rock](https://sms4smile.com/quotes/author/chris-rock/) > [African Americans, in particular, saw their cumulative wealth crash. They used to have 10 cents on the dollar of the average white family. That…](https://sms4smile.com/quotes/jill-stein/african-americans-in-particular-saw-their-cumulative-wealth-crash/) [Jill Stein](https://sms4smile.com/quotes/author/jill-stein/) > [Today's misery is real unemployment, home foreclosures and bankruptcies. This is the Obama Misery Index - and it's at a record high. It's going…](https://sms4smile.com/quotes/mitt-romney/today-s-misery-is-real-unemployment-home-foreclosures-and/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure.](https://sms4smile.com/quotes/henry-paulson/foreclosure-is-to-no-one-s-benefit-i-ve-heard-estimates-that-mortgage/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [If home ownership is the American dream, then foreclosure certainly is the American nightmare. It destroys more than credit. It destroys lives. And its…](https://sms4smile.com/quotes/lisa-madigan/if-home-ownership-is-the-american-dream-then-foreclosure-certainly-is/) [Lisa Madigan](https://sms4smile.com/quotes/author/lisa-madigan/) > [Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a…](https://sms4smile.com/quotes/ben-bernanke/consumers-going-through-foreclosure-typically-will-see-their-credit/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority…](https://sms4smile.com/quotes/alan-greenspan/a-decline-in-the-national-housing-price-level-would-need-to-be/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) ## More by Mark Zandi > [Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.](https://sms4smile.com/quotes/mark-zandi/our-biggest-challenge-is-to-eliminate-the-popular-perception-that/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes…](https://sms4smile.com/quotes/mark-zandi/in-a-normal-time-i-don-t-think-economic-policy-makes-a-large/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [It is easy to be pessimistic. These are extraordinarily difficult times, and the collective psyche is teetering. But we are closer to righting the…](https://sms4smile.com/quotes/mark-zandi/it-is-easy-to-be-pessimistic-these-are-extraordinarily-difficult/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [No one should expect the value of their house to appreciate quickly - counting on your home to be a significant part of your…](https://sms4smile.com/quotes/mark-zandi/no-one-should-expect-the-value-of-their-house-to-appreciate-quickly/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [We're getting job creation in healthcare and educational services. We've been getting that all along. It's demographically driven, it's funded by the government, and…](https://sms4smile.com/quotes/mark-zandi/we-re-getting-job-creation-in-healthcare-and-educational-services-we/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.](https://sms4smile.com/quotes/mark-zandi/there-are-different-flavors-of-recession-you-can-get-into-some-pretty/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.](https://sms4smile.com/quotes/mark-zandi/buying-a-home-wouldn-t-make-much-sense-if-house-prices-were-likely-to/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [I'm a registered Democrat.](https://sms4smile.com/quotes/mark-zandi/i-m-a-registered-democrat/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Now, I do think when we move into 2012 and '13 when, presumably, the economy is on firmer ground, I would allow the tax…](https://sms4smile.com/quotes/mark-zandi/now-i-do-think-when-we-move-into-2012-and-13-when-presumably-the/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the…](https://sms4smile.com/quotes/mark-zandi/at-the-center-of-every-recession-is-a-serious-imbalance-in-the/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and…](https://sms4smile.com/quotes/mark-zandi/there-is-no-better-way-to-quickly-buoy-hard-pressed-homeowners-than/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and…](https://sms4smile.com/quotes/mark-zandi/the-average-credit-score-of-today-s-fha-borrowers-is-higher-than-the/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [An overheating economy, characterized by accelerating inflation and rising interest rates, is another precondition for recession. This doesn't describe today's economy.](https://sms4smile.com/quotes/mark-zandi/an-overheating-economy-characterized-by-accelerating-inflation-and/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that…](https://sms4smile.com/quotes/mark-zandi/too-easy-credit-and-millions-of-bad-loans-made-during-the-u-s-housing/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [Distressed properties are often vacant and in disrepair, and thus sold at significant discounts. As the share of distressed sales grows, home prices fall.](https://sms4smile.com/quotes/mark-zandi/distressed-properties-are-often-vacant-and-in-disrepair-and-thus-sold/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) [Explore all 54 Mark Zandi quotes ](https://sms4smile.com/quotes/author/mark-zandi/) ## More Accelerate quotes > [Resist discouragement by speaking His Word over your future. Keep standing. Keep hoping; keep believing because He is working behind the scenes. He's going…](https://sms4smile.com/quotes/joel-osteen/resist-discouragement-by-speaking-his-word-over-your-future-keep/) [Joel Osteen](https://sms4smile.com/quotes/author/joel-osteen/) > [It has never been more critical that a leader step forward to accelerate our understanding of cancer - and champion the effort to finally…](https://sms4smile.com/quotes/victor-j-dzau/it-has-never-been-more-critical-that-a-leader-step-forward-to/) Victor J. 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At ground control the radar altimeters also have stopped-on readings…](https://sms4smile.com/quotes/joseph-kittinger/an-hour-and-thirty-one-minutes-after-launch-my-pressure-altimeter/) Joseph Kittinger > [Imagine we could accelerate continuously at 1 g-what we're comfortable with on good old terra firma-to the midpoint of our voyage, and decelerate continuously…](https://sms4smile.com/quotes/carl-sagan/imagine-we-could-accelerate-continuously-at-1-g-what-we-re/) [Carl Sagan](https://sms4smile.com/quotes/author/carl-sagan/) > [Concentration of wealth yields concentration of political power. And concentration of political power gives rise to legislation that increases and accelerates the cycle.](https://sms4smile.com/quotes/noam-chomsky/concentration-of-wealth-yields-concentration-of-political-power-and/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [As IT enters the mobile-cloud era, IT providers need to be more innovative about addressing customers' fast changing needs. Over the past two years,…](https://sms4smile.com/quotes/padmasree-warrior/as-it-enters-the-mobile-cloud-era-it-providers-need-to-be-more/) [Padmasree Warrior](https://sms4smile.com/quotes/author/padmasree-warrior/) > [The Egyptian experience suggests that social media can greatly accelerate the death of already dying authoritarian regimes.](https://sms4smile.com/quotes/evgeny-morozov/the-egyptian-experience-suggests-that-social-media-can-greatly/) [Evgeny Morozov](https://sms4smile.com/quotes/author/evgeny-morozov/) > [I really think that technology has the greatest potential to accelerate happiness of most things in the world. The companies that will ultimately do…](https://sms4smile.com/quotes/ashton-kutcher/i-really-think-that-technology-has-the-greatest-potential-to/) [Ashton Kutcher](https://sms4smile.com/quotes/author/ashton-kutcher/) > [It was the Obama administration that cut a faux deal with the Iranians that will not disarm Iran of its nuclear capabilities, and will…](https://sms4smile.com/quotes/ben-shapiro/it-was-the-obama-administration-that-cut-a-faux-deal-with-the/) [Ben Shapiro](https://sms4smile.com/quotes/author/ben-shapiro/) > [I see Maradona every time he grabs the ball and accelerates.](https://sms4smile.com/quotes/pep-guardiola/i-see-maradona-every-time-he-grabs-the-ball-and-accelerates/) [Pep Guardiola](https://sms4smile.com/quotes/author/pep-guardiola/) > [Were it possible so to accelerate the intercourse between every part of the globe that all its inhabitants could be united under the superintending…](https://sms4smile.com/quotes/james-madison/were-it-possible-so-to-accelerate-the-intercourse-between-every-part/) [James Madison](https://sms4smile.com/quotes/author/james-madison/) > [The opportunity ahead for Microsoft is vast, but to seize it, we must focus clearly, move faster and continue to transform. A big part…](https://sms4smile.com/quotes/satya-nadella/the-opportunity-ahead-for-microsoft-is-vast-but-to-seize-it-we-must/) [Satya Nadella](https://sms4smile.com/quotes/author/satya-nadella/) > [When you consider that a steelworker who's making $40,000 a year has virtually the same tax burden as someone who's making $400,000 a year,…](https://sms4smile.com/quotes/dennis-kucinich/when-you-consider-that-a-steelworker-who-s-making-40-000-a-year-has/) [Dennis Kucinich](https://sms4smile.com/quotes/author/dennis-kucinich/) > [When we deal in generalities, we shall never succeed. When we deal in specifics, we shall rarely have a failure. When performance is measured,…](https://sms4smile.com/quotes/thomas-s-monson/when-we-deal-in-generalities-we-shall-never-succeed-when-we-deal-in/) [Thomas S. Monson](https://sms4smile.com/quotes/author/thomas-s-monson/) Browse all 191 Accelerate quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. 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