FDIC Alters Mortgages To Stop Foreclosures
The FDIC is detailing a plan to prevent another million foreclosures in upcoming months. Financial incentives will be offered to companies who agree to sharply reduce monthly payments on mortgage loans.
Maybe I’m old school, but if you can’t pay for it, shouldn’t you lose it? What about the millions of Americans who DIDN’T step out and spend more than they could afford? Maybe conservative household economics needs to be taught in every US home, school, YMCA, and Walmart???
http://www.washingtonpost.com/wp-dyn/content/print/