Tuesday, March 8, 2011

Why the banks don't want to modify mortgages so people can keep their homes.

 
Everyone in the USA needs to see this video!
 
I was talking to a real estate agent recently and he said that banks actually don't want to do short sales because by just foreclosing, they get the full home value back from the FDIC due to insurance.  So then they don't lose any money.  The house is handed over to HUD where it eventually gets auctioned off.
 
Atheria

No comments:

Post a Comment