Bookmark this site
Barney says he “might” bring back “talks” about bankruptcy if mortgage servicers do not behave and help more homeowners. The bankers have chimed in and said that bankruptcy will hurt the already dying mortgage business and further tighten bank lending.
Here’s the bankers:
In response to discussion today in the House Financial Services Committee raising the possibility that a regulatory reform bill could include provisions allowing bankruptcy judges to modify mortgages on primary residences, MBA Chairman David Kittle issued the following statement.
“Allowing judges to retroactively modify borrowers’ mortgage balances will destabilize a mortgage market that desperately needs stability right now.
Haven’t we heard this ALL before?
It is almost like it is a planned media shill game to make it look like those in Washington like Barney Frank “care” about their constituents who are losing their homes. If they truly cared, there would be more being done to help you and make sure that mortgage servicers are held accountable. Right? When in reality they care more about the bankers who fill their political coffers with gold so they have jobs in 2010.
