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Given losses like these, White said he was “perplexed that lenders and their representatives were resisting reducing principal when they modify loans.”
His data shows how rare it is for lenders to reduce principal.
The foreclosure paradox: Foreclosures breed foreclosures. Cutting you a deal to keep you in your home is a win-win-win, the lender would keep getting payments, the housing market and the economy might begin to recover.
The American Dream, an environmental nightmare, fueled our consumer society. The American Nightmare, an environmental dream, is fueling the foreclosure crisis.
October 2008, to anyone not in denial, marked the last day the men behind the Federal Reserve, all connected to the House of Rothschild will create money out of thin air so the middle class can “trash the planet” with houses, second houses, cars, RVs, TVs and DVDs. [4]
So who is directing the mortgage industry to foreclose on houses they don’t want, can’t sell, and in the process are adding huge losses to their bottom line?
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