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Loan Modification

: Mortgage Lender Implode-o-Meter

The Real Reason Banks Won?t Modify Your Loan... and It Involves Grandma?s Pension

By Implode-Explode Heavy Industries

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``mortgage servicers are ripping off not only homeowners but the pension funds and hedge funds who have invested into Mortgage Backed Securities. What they?re doing is reminiscent of what was portrayed in the Martin Scorsese film, Casino, where the local mob Capos would ?skim? large sums of money off the top of the casino revenues before they were counted and sent to the bosses in the mid-west.''

Full post as published by Mortgage Lender Implode-o-Meter on April 13, 2010 (boomark / email).

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