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Who pays when lenders fail? / Don't foreclose - keep borrowers in their homes

Quicklink Submitted By erik larson No comments

erik larson

If there is any silver lining to the second largest thrift failure in U.S. history, it is this: the IndyMac bank collapse has ironically resulted in the nation's first foreclosure moratorium. The Federal Deposit Insurance Corporation, after taking over IndyMac, declared it would halt all foreclosures on the $15 billon worth of IndyMac mortgages and modify the loans to keep borrowers in their homes.

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At www.sfgate.com

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Erik Larson, Human Being and concerned Citizen. I only advocate and practice non-violent methods of social and political activism & change. Disclaimer: Opinions expressed here by me in my articles and diaries are my own. I do my best to only (more...)

Related Topic(s): Banks; Failure; Foreclosures; History; History; Homelessness; IndyMac; Internet; Mortgage Crisis; Real Estate Mortgages; (more...) Subprime Mortgages, Add Tags (less...)

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