On Demand
Foreclosures Rolling On
Wednesday, November 11, 2009
Michael Hickey, executive director of the Center for New York City Neighborhoods, says banks are not cooperating with New York State initiatives to stem foreclosures.
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Comments
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I don't get it -- were banks required to help the state stem foreclosures?
If so, they should be penalized.
If not, as they say, stop whining and "Write a Lettah."
"It's more in the service of investors to (improve loan modification rates, etc.)"
Which investors are you referring to -- hedge funds? And what would they do with their concern -- who exactly would they call?
The way mortgages are created and sold of is fundamentally flawed.
And no one wants to fix it a.k.a. ban the sale and creation of mortgage back.
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