If this is true, it is an act of sound economic policy, and act of humane pragmatism, and a piece of pure political genius all at the same time.
Go read the Reuters piece. I’m just stunned. In a good way.
Underwater Mortgages to Get Principal Write Down? |
| By: Cynthia Kouril Thursday August 5, 2010 10:58 am |
11 Comments
Oh, NOW Banks Believe in Mortgage Modification? |
| By: Cynthia Kouril Thursday June 3, 2010 12:07 pm |
Many of the banks lack the proper paper trail to prevail in foreclosure and that judges are beginning to wake up to this, and sometimes even cancel mortgages outright, it is not surprising that the banks are beginning to realize that their own bad faith, their own shoddy dealing, their own rupturing of the social contract has put them in a position where they may not be in the driver’s seat on foreclosures much longer. No wonder the baks are starting to preach the gospel of mortgage modification.
Mortgage Modifications Part 6—You Cannot Ask Confirmed Carnivores to Preach the Vegan Gospel |
| By: Cynthia Kouril Sunday April 4, 2010 12:51 pm |
Bill collectors are NOT social workers, debt counselors or consumer advocates. They are bill collectors, they will eat you. Oh, they may call themselves “mortgage servicers”, but what does that mean? It means they collect the money from the homeowners.
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