The banks and the tax payer are still spending millions and millions on the housing mess. Having to evict millions of people who were never qualified to get housing loans to begin with. The lawyer fees alone (my daughter is a lawyer representing banks) are enormous. This problem is all across the country and visiting with my daughter and her firm and a few of the banks (loans) they all talk about how this all took off under Bill Clinton. This problem exploded because the democrats want to get people in housing (not sec 8 where most belong) and now what the banks are having to do is refinance and almost to the point where the bank pays their own loans off so the deadbeats can stay in the home. These are regulations that Obama did and most of us know nothing about this but the problems today are because of Obama has enough regulations that the banks cannot evict. I learned a lot the past few days. The cost of what Obama has done under the table with regulations are still strangling us
We got on the conversation of the subprime mess because they were working on a home that the "owners" had not made a payment in almost 4 years....typical story they said....millions of homes still out there that the banks were doing all they can do get these people evicted or try and restructure loans where they would pay "damn near anything"
horror stories because the Justice Department threatened the banks to start loaning to unqualified buyers.
We got on the conversation of the subprime mess because they were working on a home that the "owners" had not made a payment in almost 4 years....typical story they said....millions of homes still out there that the banks were doing all they can do get these people evicted or try and restructure loans where they would pay "damn near anything"
horror stories because the Justice Department threatened the banks to start loaning to unqualified buyers.
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