I don't know about all of you but I feel that Mortgage Lenders have made a lot of money during the last few years with the Sub Prime Boom and are still being greedy as many are closing their doors. In my opinion if many of these lenders would go through their portfolios and look at the people that have been paying there mortgages on time at their current payments that they should leave them there. If they did not adjust these loans that were only fixed for 2 or less years( I am in no means including Neg Ams in this opinion), even for just 1 year that they could lower there foreclosures rate. I say this because it would give those the opportunity to continue making payments or sell their home. I know that in the two years that they had fixed rates that they should have been able to refinance or sell their home, but most people were led to believe that they would be able to refinance. But as many have seen the Real Estate market prices have fallen and rates are higher, so neither option of refinancing or selling at this time will work. Please Comment.
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