FDIC Shared loss agreements!

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Services for Real Estate Pros with http://www.close-quick.com

I am just getting back on my chair after reading this blog http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

It amazes (well is doesn't) how the government makes banks money, instead of helping the tax payers.

Since they are covering all these losses with banks, why not cover the exact same loss (or less) by simply paying down principal on loans and reducing mortgages for borrowers directly?

what's to say Mr Smith, here's a check for 144K, pay your loan down and refinance..

 What's interesting however, is that the FDIC is urging their shared loss partners to help with forebearances and loan modifications:

http://www.fdic.gov/news/news/press/2009/pr09167.html

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Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Maurice: It simply does not make any sense at all – does it? The issues our Nation is dealing with are so massive … I feel that no one knows what to do …so its trial and error … and eventually we will get through it … many will be very harmed by it … but we will get through it.

Sep 29, 2009 02:21 AM #1
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Rainer
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Maurice De Vidts

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