Pauls' Revere
Member
- Joined
- Nov 15, 2007
- Messages
- 11,347
http://finance.yahoo.com/news/Nearly...&asset=&ccode=
The banking industry said borrowers weren't sending back their paperwork. They also have accused the Obama administration of initially pressuring them to sign up borrowers without insisting first on proof of their income.
Sure, first borrow over your head without income and now get bailed out without proof either! WTF!!
SERIOUSLY!!!
WTF!!!
Zandi said the government effort will likely end up helping only about 500,000 homeowners lower their monthly payments on a permanent basis. That's a small percentage of the number of people who have already lost their homes to foreclosure or distressed sales like short sales -- when lenders let homeowners sell for less than they owe on their mortgages.
Zandi predicts another 1.5 million foreclosures or short sales in 2011.
The banking industry said borrowers weren't sending back their paperwork. They also have accused the Obama administration of initially pressuring them to sign up borrowers without insisting first on proof of their income.
Sure, first borrow over your head without income and now get bailed out without proof either! WTF!!
SERIOUSLY!!!
WTF!!!
Zandi said the government effort will likely end up helping only about 500,000 homeowners lower their monthly payments on a permanent basis. That's a small percentage of the number of people who have already lost their homes to foreclosure or distressed sales like short sales -- when lenders let homeowners sell for less than they owe on their mortgages.
Zandi predicts another 1.5 million foreclosures or short sales in 2011.
