foreclosure: Eminent Domain & The Hypocrisy Of The Financial Industry’s Objections
- 06/30/12 02:25 AM
I read the following open letter to elected officials and those who advise them and felt compelled to offer a retort; To: The Honorable Josie Gonzales, Chair, San Bernardino County Board of SupervisorsThe Honorable Brad Mitzelfelt, Vice-Chairman, San Bernardino County Board of SupervisorsThe Honorable Janice Rutherford, SupervisorThe Honorable Neil Derry, Supervisor The Honorable Gary Ovitt, Supervisor From: American Bankers AssociationAmerican Council of Life InsurersAmerican Land Title AssociationAmerican Securitization ForumAssociation of Mortgage InvestorsCalifornia Bankers AssociationCalifornia Land Title AssociationCalifornia Mortgage Bankers AssociationCommunity Mortgage Banking ProjectConsumer Mortgage CoalitionInland Valleys Association of REALTORSInvestment Company InstituteMortgage Bankers AssociationNational Association of Home BuildersResidential Servicing CoalitionSecurities Industry and … (0 comments)
foreclosure: Why don’t the banks just foreclose on people or forgive principle?
- 05/25/12 12:22 AM
Why don’t the banks just foreclose on these people? Allow me to state is this way, the amount of debt that has been leveraged is beyond our financial systems capability to handle. If we foreclosed on everyone not making a payment and allowed the homes to be vacant, the responsibility to maintain these homes would fall on the banks, who are not set up to do this. This would cause quick deteriorat…ion to the homes and massive increase in rehabilitation cost born ultimately by the investors who bought the mortgage security in the first place. Who are they? They are your … (2 comments)
I read the following open letter to elected officials and those who advise them and felt compelled to offer a retort;
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