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Loan Modification

: Mortgage Lender Implode-o-Meter

More Foreclosures, Please . . .

By Implode-Explode Heavy Industries

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" The latest actions from Washington as well as Wall Street banks include all manner of mortgage mods, foreclosure abatements, and other extend & pretend measures. These are not only ineffective, they are counter=productive. From a moral hazard perspective, the reward the reckless and punish the responsible. Worse still, they are yet another example of penalizing middle America for the sake of Wall Street banks."

Full post as published by Mortgage Lender Implode-o-Meter on March 25, 2010 (boomark / email).

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