Always bear in mind that people are not fighting for ideas, for the things in anyone’s head. They are fighting to win material benefits, to live better and in peace, to see their lives go forward, to guarantee the future children. Amílcar Cabral wrote his first academic pieces
This is the only Bail Out I would like to see.
I feel that anyone that has lose their house be return and anyone in foreclosure,that a court should hear why that person is in for foreclosure and that it not because the Mortgage Company is putting the person money in a suspense account charging all kinds of fees. Like inspection fee late fee and other borrower fees.
The court should hear how this person got this loan.
If they had an income at the time of getting the loan what was their credit score and if they could of gotten a better loan.
This goes for a person that not in forecloses yet but is heading that way.
I also feel all mortgages should also have an escrow account for your School tax and property tax. Mortgage payment should be lower half of what they are paying now.
Interest rate should be a sir tent percentage and it cannot go up higher then a sir tent percentage.
That all mortgage loan should be paying principle not just interest only that type of loan should only be given to people who have business not low income person
If the mortgage companies prey on the consumer that they should return all money and be, return and put toward their principle and given a completely new loan.
I also feel that the Mortgage Company is the one that should lose out after committing Predatory lending and servicing fraud.
That it should come out of them not form people tax or from the government.
This will stop more of these Mortgage Companies from preying on people when purchasing or refinancing a home. They would think twice if they have to pay back.
I also think that the people that were prey on by the Mortgage Companies,
could sue for all the stress and damage they cause the person and if the person file bankruptcy and lose out on anything they had to give up that they should pay them for their lose expect ally if they had to use their pension and take loans on their life Insurance or any other source.Stop pre-payment penalties.It has to be a Bail out that going to help the victim not the lender and Brokers