Here we go....
WASHINGTON – Big banks, scrambling to prevent the government from forcing them to rewrite mortgages for struggling homeowners, are using their lobbying clout to press the Obama administration and Congress to scale back a key measure to rescue borrowers from foreclosures.
But the mortgage industry contends the measure will impose steep and unpredictable costs on its companies, which will be forced to pass them along to borrowers in the form of higher fees and interest rates. The industry spent millions last year on a successful lobbying effort to kill the bill, which almost all Republicans oppose. Opponents call it the "cram-down."
http://news.yahoo.com/s/ap/mortgages_in … y_lobbying
Who's going to win... the banks or congress? We all know who is going to lose overall... we the people...
I think we need a second and third stimulus... 1 per week till things get better...
WASHINGTON – Big banks, scrambling to prevent the government from forcing them to rewrite mortgages for struggling homeowners, are using their lobbying clout to press the Obama administration and Congress to scale back a key measure to rescue borrowers from foreclosures.
But the mortgage industry contends the measure will impose steep and unpredictable costs on its companies, which will be forced to pass them along to borrowers in the form of higher fees and interest rates. The industry spent millions last year on a successful lobbying effort to kill the bill, which almost all Republicans oppose. Opponents call it the "cram-down."
http://news.yahoo.com/s/ap/mortgages_in … y_lobbying
Who's going to win... the banks or congress? We all know who is going to lose overall... we the people...
I think we need a second and third stimulus... 1 per week till things get better...
Love is the answer