National settlements on the house market

United States
February 21, 2012 8:58pm CST
So, there is a news about our government, whether it is Federal government or the state government willing to settle the house market fiasco for the recent solution to help relieve our home owners burden. So, if you currently have mortgage with one of those banks, like Bank of America; Chase; Wellsfargo; or Ally. And you house current market price is lower than the loan, you might get a notification from them or, you can apply from those banks on the settlement, they should write down the loan for you. Also, some people might be wrongly foreclosed before this settlement is issue, they should get some money back. Overall, such settlements from our central government is aim to help those house owners to reduce their burdens.
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1 response
Yanzalong
@yanzalong (19091)
• Indonesia
22 Feb 12
In my country, many have been to their neck in debt. It seems to me banks don't care about the burden to them. When debtors are in financial difficulty and not being able to pay off their debt on schedule, banks don't want to know about it. They say it's your own problem, not ours. What we want is you pay off your debt on schedule. For one thing I hate banks because they are cruel, but on another, we need banks to transfer our money.