Banks Cash In On Mortgage Modifications And Short Sales Of Real Estate
May 29, 2009 in We Think
As if it weren’t enough to know the banks are getting our money to do with as they please, not as they promised when they came to the government hat in hand; or as we like to say in the Southern parts of the United States, “Hand full of gimme and mouth full of much obliged”, those banking bastids, or financial skanks are set to make even more money from the misfortune of others, which they in part caused.
Word on The Street, Wall Street, that is, and it’s probably true, when banks begin a loan modification, aka loan mod, they stand to earn an extra $2,500, even if the modification is unsuccessful they are paid from our money $2,500. This does not sound like very much when one considers we’ve already been bilked out of Billions and billions of dollars by Sniti Skank, Skank Of America and Wachy Skank; but just think of the number of loans that need modification and we’re talking hundreds of millions of dollars to the skanks that are too big to fail. (more…)