Foreclosure Settlement REJECTED
The Attorney general for California has rejected foreclosures settlement. This is a $25 Billion bailout that would let lenders get off with just a tap on the wrist. The reason why the housing market is as bad as it is is because of lenders that would practice unethical lending. Banks already are getting a pass also, when you buy a bank-owned property, most disclosures are REO exempt, releasing bank from all liability. There is a problem with the housing market and past lending practices, which is causing many people to lose their homes. It’s just a giant game of hot potato, just keep passing the hot potato and hopefully the lender and banks don’t get stuck with it, you and I are the ones left to get burned. With time it will get better but is there a way to cool things off in the mean time? At the same time having the banks and other lenders take responsibility for the unethically practices that where going on. Only time will tell!!!!
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Alex Carey: “It is long accepted by the missionaries that morality is inversely proportional to the amount of clothing people wore.”
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