Mortgage Bankers, who screwed you before, just celebrated another victory over homeowners in the Senate, because they’ve got HIGHLY PAID LOBBYISTS and you don’t
This is how Mortgage Bankers would like the American Homeowner to be protected:
Bankruptcy Judges were to be given the power to renegotiate mortgages (since values are lower) in a move bankers call ‘Cramdown’. The Mortgage banking lobby said ‘NO’, and put their money where their big mouths are…
“Maybe a rainbow will come out…” says the Mortgage Banking guy. Well, sadly for the Average American, a rainbow of UNFAIR did come out, colored by the Mortgage Bankers’ money.
John Taylor, The National Community Reinvestment Coalition, rattles off everyone who will PROFIT by foreclosing and NOT let homeowners be protected by bankruptcy: mortgage bankers, bankers, lawyers…
Hey, didn’t those Mortgage Banking guys get us into this mess?
And now they’re stripping any homeowner protections? Surprise, Surprise.
No comments yet.