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Another Reason Obama's Mortgage Mods Aren't Stopping Foreclosures
“Diane Pendley, managing director at Fitch, said the problem is not on that “front-end” ratio, but on the back end, which is all of the borrowers other debt ( credit cards, car loans , student loans , etc.). She said that in talking with … Obama’s Homeowner Bailout Is Just A Drop In The Bucket … Someone like that could reason it would be better to walk away now and try to repair their balance sheet and credit to get those “bargains” sure to be coming down the line. …
Mortgage Crisis Over? Please, It's Just Beginning
While the Fed is making money available, it seems apparent that banks are using this money to repair their balance sheets, and only lending money on the strictest of terms– and CLEARLY, due to the return of the practice of a down …. reduce the size of the mortgage deduction on those homeowners 1040s. 6. Finally, the gov’t would not have to put up one cent to buy these loans from the banks, and the implementation of the program would be far simpler than the current …