Maxine Waters on Cavuto today, and his sacrastic quips which went over her head, were absolutely priceless. She was lambasting banks who don’t “simply” lower someone’s payment when they say they can’t afford it!
I saw some of that interview today too. I wrote down something she said because I wasn’t sure I heard her correctly.
it MIGHT make sense for banks to be proactive in order to protect their mortgage portfolio.
it MIGHT make sense to see if default prevention is less expensive than forclosure costs, legal fees, and carrying property.