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Loan Modification

: Mortgage Lender Implode-o-Meter

Yet Another Program to Enrich Banks at Taxpayer and Borrower Expense

By Implode-Explode Heavy Industries

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" Plenty of seconds are under water and have NO economic value. But they play like pigs in foreclosure and renegotiations. So this program will validate values above market value for these homes and unnecessarily enrich second mortgage holders, who otherwise would have to eat their losses."

Full post as published by Mortgage Lender Implode-o-Meter on April 29, 2009 (boomark / email).

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