Relevant:
- Foreclosure Fiasco Trail Leads to Washington: Jonathan Weil
- Bankruptcy Judges & DOJ Rip Mortgage Companies
- Mortgage Mess: Shredding the Dream; Major Fight over Enormous Losses Yet to Come
- More foreclosures on the way for 2010
- The Foreclosure Mess MBS Hate Triangle Emerges: Junior Versus Senior Bondholders Versus Servicers
2010-10-21 — bloomberg.com
"The biggest U.S. mortgage lenders and servicers say they’re putting the foreclosure mess behind them, and that it never was a major problem. The reality is these companies are so big and unmanageable, the people in charge of running them have no way to know if that is true."
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Comments:
catherine at 19:17 2010-10-21 said:
amen amen..............they evidently don't have a clue OR ARE LYING THRU THEIR TEETH, I think the latter................but there are plenty of head in the sand guys out there too.... THREE YEARS LATER AND WE FIND THE BANKS SOLD the same mortgages over and over.............they knew what they were doing..........AND IT TOOK 3 YEARS TO FIND OUT ABOUT IT - WHAT OTHER HORRORS ARE THEY HIDING???? I find it UNBELIEVABLE that we wring our hands over the millions and millions of foreclosures IN THE BASEMENT and spend time worrying what we are to do with them ALLTHEWHILE IGNORING, ABSOLUTELY IGNORING that millions and millions more are piling up at the door as I write this AND THERE IS NO FIX IN SIGHT. we are not only not fixing the OLD PROBLEMS, we are ignoring the NEW ONES in our faces............ and the government tells us that unemployment will go up to 10% in November, bet it goes to 11 in december, 12 in january, 13 in february and 14 in march............ that means we double the foreclosures we have now IMMEDIATELY........... this is bad............ but hey IF THE BANKS SAY NO PROBLEM, OFFLMFAO Permalinkadd a comment | go to forum thread
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