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September 29th, 2016, 12:57 PM #21
Re: The facts about who caused the current economic disaster
it was a no lose situation for the banks.
they continued to give home equity loans and mortgages because they couldn't lose.
if you did default for whatever reason they wouldn't allow people to catch up their loans because the loans were insured by companies like AIG, and it actually was more profitable for the banks to foreclose because they were made whole from the debt because of their insurance policy paid the debt and as an added bonus they still retained ownership of the property and whatever they sold the properties for after the foreclosures was an added bonusEcclesiastes 10:2 ...........
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September 29th, 2016, 01:21 PM #22
Re: The facts about who caused the current economic disaster
...and we were told by media articles that banks are not in the real estate business and do not want to be engaged in it.
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