[Vision2020] Aren't Banks & Partners Wonderful!

[Donovan Arnold]

The banks should not have been given the money. The homeowners should have been given the loans at a renegotiated rate to pay the mortgages at a lesser return. If the government gives the money to the banks, banks just take it and the homes, and kick out the home dwellers. It is the banks own fault, they took the risk on the loans for a huge quick short term profit, and were fully aware they would not get the money back from the people they duped into taking it. 
 
It seems odd that we now have a bunch of homes sitting empty, and at the same time a bunch of people that need homes. Only the government could create the problem of too many homes and too many homeless at the same time. 
 
Donovan Arnold

From: Moscow Cares <moscowcares at moscow.com>
To: Art Deco <art.deco.studios at gmail.com> 
Cc: "vision2020 at moscow.com" <vision2020 at moscow.com> 
Sent: Wednesday, March 28, 2012 10:49 AM
Subject: Re: [Vision2020] Aren't Banks & Partners Wonderful!





Seeya round town, Moscow.

Tom Hansen
Moscow, Idaho

"If not us, who?
If not now, when?"

- Unknown



On Mar 28, 2012, at 9:45, Art Deco <art.deco.studios at gmail.com> wrote:



>
>The $26 billion crapshoot
>The foreclosure settlement looks like a hit-or-miss game that leaves millions of homeowners out in the cold. 
>A roll of the dice
>1 of 6
>Homeowners hoping the $26 billion foreclosure abuse settlement would mean big savings on their mortgages were mostly disappointed. Even though a million borrowers will have their principals slashed by as much as $100,000 or more, most are not eligible for a workout simply because the bank that issued their mortgages, didn't hold their mortgages.
>
>During the housing boom years of the early 2000s through 2007, about 20% of loans went into the bank's own portfolios. The rest were sold off, either to Fannie Mae or Freddie Mac or to investors.
>
>Only loans held by the banks and some of their investors will be modified. The rest of the borrowers will be left out in the cold.
>
>"It's not as long a shot as winning the lottery but there's a lot of chance involved," said Guy Cecala of Inside Mortgage Finance.
>
>The Department of Housing and Urban Development, which helped negotiate the settlement, recognizes that it left out many homeowners. 
>
>"From the outset we have been very clear that the settlement is not intended to solve or resolve all the issues related to the housing crisis," HUD spokesman Derrick Plummer said earlier this month. "It's just one step in a host of efforts the Obama Administration is taking to help the housing market recover.
>-- 
>Art Deco (Wayne A. Fox)
>art.deco.studios at gmail.com
>
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