July 14, 2024

It’s the old story… If you want to find the real reason behind major institutional activity, FOLLOW THE MONEY!  This video suggests certain banks have NO INCENTIVE to refinance troubled mortgages & don’t care at what price a property is sold.

Some say the largest  inaccuracy in this video is that the public paid for the loss the FDIC covered. Further, FDIC losses are covered by their own funds which are collected from members. So, it’s really insurance; you pay a premium and they cover you if something bad happens.  The claim is that the FDIC is NOT funded by the public…


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2 thoughts on “Why Many Home Loan Modifications Are Never Approved

  1. More cheap Faux News sensationalism. One West didnt HAVE to buy those bad loans. Those are the ‘toxic assets’ everyone has been talking about.

    No bank would ever buy those assets if it wasnt for a guarantee like that.

    It’s easy to whine and complain after we’ve narrowly avoided another great depression.

    Plug your nose and take your medicine America.

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