Apr 28 2009
California Loan Modification Scams: Kicking the Financial Can Down the Road. SB 1137 and SBX2 7. Mortgage Cram-Downs Stripped from Rescue Bill. Loan Mods that make your Payment go up.
In another chess move to reward banks and fleece the American public, cram-down legislation was stripped out of the new rescue bill. This is significant since this was one of the keystones in the new housing agenda. Yet the banking oligarchy wasn’t pleased with this legislation and applied pressure via lobbying to get this piece […]