mr_subprime

New Mortgage Bankruptcy Bill Does Not Address Real Problem

To reverse the tide, homeowners should be taking their lenders to court and defending their property. Banks wrote predatory loans because THEY COULD! The majority of these lenders wrote bad loans knowing the risk had been assigned upstream to investors. They got paid back on the funds they lent PLUS their commission from the aggregator. You want to see the economy inprove? Extinguish the predatory mortgages, give these people their homes, and let the banks take it on the chin!! Now, you'll have a bunch of lower- and middle class consumers with paid off homes, good credit, and purchasing power!