Ben Bernanke says more needs to be done to help homeowners in trouble
Ben Bernanke has called on Congress to keep homeowners from foreclosure. “More needs to be done,” he declared.
But the problem is that recent data suggests that many of the borrows who have received help refinancing their mortgages earlier this year are re-defaulting on their payments. A top US bank regulator says, “Put simply, it shows that over half of mortgage modifications seemed not to be working after six months.”
The data found that after three months, 36% of borrowers who restructured their mortgages re-defaulted. After six months, the rate of people re-defaulting jumped to 53%. And after eight months, almost 60% of restructured mortgages had re-defaulted.
Which means that these dirtbags should be thrown out of their homes and moved into an apartment.
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Tags: ben bernanke, congress, default, home foreclosures, home loans, home mortgages, homeowners
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December 18th, 2008 at 10:22 pm
are you one of them southern racist?
December 19th, 2008 at 3:06 am
Why would that make me racist? When someone can’t pay the mortgage, throw their ass out!
December 28th, 2009 at 4:19 pm
I just love it ….. well i don’t have any doubt about your articles… your articles are awesome… Honestly you are simply the best.Thanks for sharing this with us