Monday, Nov 30, 2009

I think I'd just accelerate the process to get my money back if I heard this proposal.

Bloomberg: Lenders Face Sanctions for Failed Loan Modifications

The U.S. Treasury Department will begin taking action against lenders that aren’t doing enough to ease mortgage payments for troubled homeowners as part of the Obama administration’s campaign to curb foreclosures.
Lenders face “consequences” that may include sanctions and monetary penalties if they fail to perform under the Home Affordable Modification Program, the Treasury said.

Posted by tyrellcorporation @ 10:18 PM (653 views)
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1. paul said...

The US sowing the seeds of its long term demise. By helping the reckless and short-sighted stay solvent, you prevent the reallocation of resources so prevent any recovery.

Both the US and UK need to learn that they can't eat their cake and have it.

Tuesday, December 1, 2009 06:49AM Report Comment

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