loan modification: Please Don't Banish Me for My Heresy
- 08/11/09 09:43 AM
It appears to me that a large percentage of the blog postings dealing with the challenges of the short sale, criticize the lender for being slow and sometimes almost unwilling to cooperate with the homeowner requesting a short sale. I have an uneasy feeling that there is something inherently wrong with this picture. Before I go any further, there are several points I want to make clear: I am not defending the banking industry and their response to short sales I empathize and sympathize with the homeowner who is engulfed by a financial crisis not of his own making I am not … (42 comments)
loan modification: A Parable of the Unforgiving Lender
- 04/30/09 11:17 AM
The United States Government wanted to settle accounts with the banking industry. When the accounting began, Lenders owed billions and could not pay. Uncle Sam ordered them to reduce executive compensation, quit throwing wild parties and paying extravagant bonuses or they would have to sell of their assets and perhaps file bankruptcy. The banking industry fell on its knees and implored Uncle Sam, "Have patience with me, and I will pay everything." And Uncle Sam had pity on the banks, forgave them, paid the debt himself. But when the banking industry went out it found tax paying consumers that owed hundreds of thousands, seized the … (3 comments)
It appears to me that a large percentage of the blog postings dealing with the challenges of the short sale, criticize the lender for being slow and sometimes almost unwilling to cooperate with the homeowner requesting a short sale. I have an uneasy feeling that there is something inherently wrong with this picture.
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