So, basically, if you bought a house you could afford, and paid the mortgage on time....you're a fucking moron. Sigh. Let's keep rewarding idiotic behavior, so as to encourage more of it. Wonderful. This may be the best move for BOA as writing off 30 percent is far better than gettign stuck with tons of REO repossessed houses that require continued maintenence, tax payments, etc, but it sends completely the wrong message, and also ensures that no one will learn any lessons from all this.
http://www.cnbc.com/id/36012522
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seems like the inspector general agrees with me !
ReplyDeletehttp://thehill.com/blogs/on-the-money/banking-financial-institutions/88731-tarp-watchdog-blasts-obama-housing-program