March 29, 2010

~~Another 14 billion ready to go down the drain

By Timothy Stull (

Well the Feds have launched round 2 of the loan mod / foreclosure prevention plan. I guess this one costs less….14 billon dollars in comparison to the 61 billion that was wasted on the last plan. Every senior economist in the USA is wondering why the Federal Government just can’t leave the this problem along and let the markets work themselves out. Do you realize if this 75 billion dollars was spent towards job creation that people would have more money ~ which means people would be able to pay their mortgages. I really find it amusing that Feds fell the incentives offered to banks & investors will make the wheels turn. Didn’t the President already have all the CEO’s from Wells Fargo, Citi, Chase, B of A etc at Capital Hill about 2 months ago? What a wasted of time that was ~ everyone sat across the table staring at each other….then at 4pm on Friday it all came out ~ “The investors make all the decisions & they are not obligated to cooperate”. Alrighty then….now we can all to the bar and grab a few beers. I just don’t know why the Feds raise everyone’s hopes ~ only leading to disappointment. For answers to any questions involving foreclosure feel free to call 877.297.7011.

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