Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (2 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   No comments

Loan Mod Program Left Homeowners' Fate in Hands of Dysfunctional Industry

Quicklink submitted by Sheila Samples     Permalink
Related Topic(s): ; ; ; , Add Tags

View Ratings | Rate It

opednews.com Headlined to H4 2/19/11

Become a Fan
  (36 fans)


At www.propublica.org

The Obama administration bet the success of its foreclosure prevention program on the ability and willingness of that same troubled industry to help homeowners -- and lost. The program, overseen by the Treasury Department, has been characterized largely by lax enforcement and deference to banks. mortgage servicers, the largest of which are the nation's largest banks, don't own the vast majority of the loans they handle. So, they don't bear the loss if the loan goes to foreclosure. In fact, servicers often make money from foreclosure fees.

Read the rest of the story HERE:

At www.propublica.org


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments