Loan Modifications… yes, again!!!!!!!!
January 19, 2010 · Filed Under Real Estate
Just when you thought it was safe to go outside, here comes another sucker-punch. I know that loan mods are greeted with mixed reviews and I have probably sent mixed messages, but it’s difficult to compare apples with apples when the fruits are never the same. Did I just say that? Anyway, here’s another look at loan modifications and their ramifications. Enjoy !!!!!!!
Wallace…
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Surprise! Surprise! Well, considering that most of these banks wont even talk to you until you are 90 days behind on your mortgage, its no wonder one’s credit goes in the toilet. This mentality baffles me, considering that these banks want you to have “perfect” credit to buy a home. So, lets see how this makes sense? Let’s ruin the credit of hundreds of thousands of people who lost their jobs or been downsized. Or people who just got into the wrong kind of loans and lost their houses, so that none of these individuals can buy a refrigerator, or a car or a house for quite some time! Like 10-15 years!
Isn’t this called cutting off your nose to spite your face?
The economy is sure to recover in a hurry when very few people have the ability to purchase anything with credit.
It seems that there are a lot of people out there with cranial rectosis!