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The Mortgage Mess

Author: Paula Bean
Date: November 3, 2007 12:59 PM
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You can't fix greed and you can't fix 'stupid'

In a recent article in Inman News: Mortgage bankers oppose workouts for bankrupt homeowners, Matt Carter reports that legislation that would allow judges to modify the mortgage loans of troubled borrowers who file for Chapter 13 bankruptcy protection would increase the interest rate on loans with small down payments by up to 2 percent, according to testimony by the Mortgage Bankers Association at a hearing on HR 3609, the Emergency Home Ownership and Mortgage Equity Protection Act of 2007.

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  • The Mortgage Mess
    Paula Bean wrote:
    In a recent article in Inman News: Mortgage bankers oppose workouts for bankrupt homeowners, Matt Carter reports that legislation that ...
  • 2 comments on this entry:
    • Richard Burke said:
      Paula, The focus of bailout money is partially misdirected. Some should go to guaranteeing the end investor who bought the ...
    • Terry Osburn said:
      Paula, You make valid points. The simplicity of fixing the problem is entirely complicated by greed. You wrote this in ...

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