12
Feb
Why Many Home Loan Modifications Are Never Approved
It’s the old story… If you want to find the real reason behind major institutional activity, FOLLOW THE MONEY! This video suggests certain banks have NO INCENTIVE to refinance troubled mortgages & don’t care at what price a property is sold.
Some say the largest inaccuracy in this video is that the public paid for the loss the FDIC covered. Further, FDIC losses are covered by their own funds which are collected from members. So, it’s really insurance; you pay a premium and they cover you if something bad happens. The claim is that the FDIC is NOT funded by the public…