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Why aren’t the mortgage companies and Banks resetting home loans to current value?
Posted by James on July 17, 2009 in Home Loans | ∞
tarl m
I was told that the mortgage companies and banks are going to reset (re-write) home loans starting on Oct 1st. Why are they waiting so long? If they re-set the loans now they will receive monthly payments and people will stay in their homes. If they continue to wait until oct 1st more people will be walking out on their homes cause they cant make the higher payments.
This same greed has caused the problem, the banks should take what they can now and not loose more money.
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I was told that the mortgage companies and banks are going to reset (re-write) home loans starting on Oct 1st. Why are they waiting so long? If they re-set the loans now they will receive monthly payments and people will stay in their homes. If they continue to wait until oct 1st more people will be walking out on their homes cause they cant make the higher payments.
This same greed has caused the problem, the banks should take what they can now and not loose more money.
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3 Comments
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You answered your own question in your comments section above. They are greedy and want more.
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WTF. Greed. Oh you poor victim. You purchase a place that you couldn’t afford.
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6 more months and they will wake up
thier house is paper on fire