Comments on: Foreclosure fury: Obama sends bill back to Congress http://www.capitolhillblue.com/node/33406 The oldest political news site on the Internet because nobody's life, liberty or property is safe while Congress is in session. Thu, 20 Jun 2013 01:26:26 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: woody188 http://www.capitolhillblue.com/node/33406/comment-page-1#comment-81998 woody188 Fri, 08 Oct 2010 21:03:38 +0000 http://www.capitolhillblue.com/?p=33406#comment-81998 They forgot to mention PNC Bank also has halted foreclosures for a month. I don’t expect this to help most homeowners, as most of these foreclosures are valid, just improperly filed.

Of note, banks now lead the US in home ownership over any other private endeavor. Perhaps this is what Junior meant in transforming the economy into an ownership economy?

Banks trade their worthless paper for your real assets?

I’m a bit surprised by the “experts” claiming this will hurt lending, seeing how most mortgages are now sold to Fannie/Freddie (ie our government) with the bank only retaining the servicing of the loan. I was just reminded of that fact as I got a notice that my lender just sold my loan to FreddieMac just over a month after the deal closed.

TARP also provided for Frannie/Freddie and the Fed to directly buy up the bad assets. So if banks still have these bad mortgages on their books, it’s because they bet they would be worth more than paper money by now.

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