Relevant:
- Obama Finds No Easy Way To Buoy U.S. Homeowners Deep Underwater
- Loan Servicing Debacle: Berliner Gets Blunt
- Bank of America False Claims Case Is Yet Another Reason for Fannie Mae and Freddie Mac to Look to Principal Reductions
- Wells Fargo sends refunds to some FHA mortgage customers
- Dream of owning a home wakes up to reality
2008-12-14 — ml-implode.com
"The reality is that at the time most troubled loans were made, the borrowers really could afford it because everyone made $150k per year for the purposes of buying a home."
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Comments:
thetruthfromNC at 05:03 2008-12-16 said:
Some of you still don't get it on how this works. Everyone need to take the time to watch "It's a Wonderful Life" since it's on this time of year. Just like Ole Jimmy told everyone when they wanted there money out of the saving and loan, that it wasn't there it was in Mr. Smith's house and Mr Wilson's, etc. Our mortgages aren't in the bank they're in Mr. Smith's 401K and Mr. Wilson's 401K, etc. If they write down mortgage balances it comes out of YOUR pockets! Permalinkadd a comment | go to forum thread
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