you're shocked to find out by an author extend over here
no
that are there to a jury bout
there was at residential mortgage task force rather twenty five billion dollars
but they were supposed to pay for the robo signings jones of course they want
to pay most of that and it turned out there was no task force
that shine them in the near stated attorney general who we trusted was
dented lead that task force
nothing in in the wind no office no phones nothing it doesn't exist in the
line
now it turns out there's a third way they've been a baby
complying with what we thought was a deal
this is treated the use of second mortgages
this is fascinating
bristles above links to the new york and explains
banks have dragged their feet in modifying first mortgages
what's listed grain to forgive part of the principal
on homes that are under water
that's interesting
so ally houses have personal reasons second mortgages
the banks
are not willing to modify the first mortgages
why are they doing that
so you read further and a new beginning at the answer
it has allowed banks to push homeowners in the short sales
an alternative foreclosure where
by the distressed homeowners salsa property for less than that that is out
access and at strict number two
by not being there for closure they see that no
is the other two have numbers on foot i did a short sale it's totally different
now how about that second mortgage trick
winsock slate so letter can forgive a second mortgage
which in the event of foreclosure would be worthless anyway
and other the silent claim
credits for modifying orange while the same time
it or another bank for closes on the first one
now excessive use so would explode
let's say you got home from the bells mostly for storage was eighty thousand
ceremonies was twenty thousand this happen all the time back in the
background
your house at some point was or the hundred and ten thousand and so
you'd put in their original ten thousand cetera
okay really psyched now the house is worth
sixty pounds
there's no way to pay the same origin the bank knows that
so banks is hey you know what they might have merciful offer give the twenty
thousand
and u_s_ government that down as credit for me being
they have an agreement
and a half to do so then i won't forget
nato doesn't matter think would
began it was never repaid a never reaches a pain in the house is a worked
up
but on the first mortgage they go off
we're in for dinner second mortgage and tears at your house is still under water
use force more than you can break
said it for you we propose what can we do
what can we do
my point of telling you this spring i was in the weeds the point is
when they told us alone
worry process
the banks will do this on their own
and what we're seeing
propped on the friends we have to tell you that's bullshit right
how many times
and then next time you hear that no one i we got a great deal than the
government will all once in a little bit but the bank salute on their own
this issue b
bach that
look their there are ways to do this i would like to add to his mother ice an
example before too
which is
i sleep came in a sarajevo later i was an interesting over you you fucked up
our economy out of school your old done don nationalize
okay
uh... prime minister you're arrested
bankers eurostat
uh... was so repair all the personally sparked a
pain or happen
but of course they're really all i got it socialist
now may brought the banks back to health
whatever their economy improves
they're they're growing at a at a higher pace than anywhere else in europe
that's the right way to do it
because then the government says bud k another politically bullshit games
anymore
okay now i'm in charge
and if we have if we can get back to health
we're gonna give that credit to the people and in the rescue which in that
case of the people of iceland their cases people of the united states