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The Eagle

Fdic "cash For Keys" Proposal Would Pay Underwater Homeowners $21,000 To Walk Away

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The five biggest US mortgage servicers were told this week at a privatemeeting with regulators to consider paying delinquent borrowers up to$21,000 each as part of a broader settlement of the foreclosure crisis.

Peoplewho attended the meeting, chaired by the Federal Deposit InsuranceCorporation on Monday, said the industry-wide “cash for keys” programwould involve the biggest servicers, led by Bank of America payingborrowers as an incentive to leave their homes.

Banks would payborrowers who are more than 90 days behind on mortgage payments up to$1,000 to seek independent financial advice and up to $20,000 in cashas a “fresh start” payment towards living costs in a new home. Theywould have to vacate their properties quickly and leave them in goodcondition.

http://globaleconomicanalysis.blogspot.com/2011/03/fdic-cash-for-keys-proposal-would-pay.html

there are 6,869,584 in total non-current loans of which 2,195,940 are already in the foreclosure process.

It looks like the US housing market and the banksters are in such a deep mess that nobody is able to think clearly anymore, I cannot explain myself otherwise how they can come up with such crazy ideas. (or is it all the fast food and the flouride in the drinking water?)

Idiocracy here we come...

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http://globaleconomicanalysis.blogspot.com/2011/03/fdic-cash-for-keys-proposal-would-pay.html

It looks like the US housing market and the banksters are in such a deep mess that nobody is able to think clearly anymore, I cannot explain myself otherwise how they can come up with such crazy ideas. (or is it all the fast food and the flouride in the drinking water?)

Idiocracy here we come...

Unless, of course, they want to get their hands on the properties without having to actually prove, with the aid of expensive lawyers (as if there were any other kind), that they have a right to foreclose.

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Unless, of course, they want to get their hands on the properties without having to actually prove, with the aid of expensive lawyers (as if there were any other kind), that they have a right to foreclose.

Bingo!

Something tells me there is a wave of people asking for proof of money changing hands in the US. I wonder where they got that idea from........

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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