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Is anyone really surprised by this?
I would argue that the "big banks" made more money by NOT participating!
Disorganization and understaffing?
They had enough people to write the loans, why wouldn't they have enough to modify them?
More BS if you ask me...
Houses should be worth what they would cost to build!!! The only adjustments would be for land mass. This would have solved a huge amount of the problem both then and now!!!
Hey! While you are at it how about setting up Nationaized Home Appraisals Department based on what a home is worth as opposed to what someone is willing to pay for it!!! That way had someone say a couple of years ago "wanted " to pay $150,000 more for a house that was worth $300,000 then they would have to come up with...more
11/9/2009
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