This actually sounds like a good idea to me. Squatters are screened and they stay in the house until they are kicked out by the bank. If they don’t destroy the property, they’re providing a much needed service for their neighbors and the banks: they are keeping out people who would strip the place clean and other more destructive squatters. When the banks are ready to sell the property, they can contact the police to get them out and then the squatters can move to another foreclosed property since there are plenty available.

When the woman who calls herself Queen Omega moved into a three-bedroom house here last December, she introduced herself to the neighbors, signed contracts for electricity and water and ordered an Internet connection.
What she did not tell anyone was that she had no legal right to be in the home.
Ms. Omega, 48, is one of the beneficiaries of the foreclosure crisis. Through a small advocacy group of local volunteers called Take Back the Land, she moved from a friend’s couch into a newly empty house that sold just a few years ago for more than $400,000.

The only thing I don’t like about it is the name of the group, “Take Back the Land” sounds like they intend to keep the property but it’s misleading because that’s not their intention.