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Another money maker for Wall Street

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Another money maker for Wall Street

Post by Guest on Wed Jul 20, 2011 8:46 pm

So, let's see, the banks would not negotiate and help their customers modify to possible stop the foreclosures. They haven't been able to sell off the glut of foreclosed homes under HUD or FHA because of the rules passed in 2009 because it was tax payer funds that put the modification program in place, so they devise a way to change the rules and sell off the clut of homes to investors, who may be just fine with paying less and the gov't lets them write down the principal at a loss. Oh, yes, Wall Street at it's finest again. Also, how about the other millions out in the street, no one told them that an investor could be found that would buy their mortgage for less than they owed, and they could stay and pay that investor payments for less per month. This is not ok with me, these banks should reduce the principal and take the losses themselves, they caused this housing crisis.

http://www.bloomberg.com/news/2011-07-20/treasury-explores-plan-to-help-1-million-u-s-homeowners-avoid-foreclosure.html

Guest
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