Department of Justice $25 Billion Mortgage Relief Program

By lilo   follow   Thu, 8 Nov 2012, 8:10am PST   ↑ Like (1)   ↓ Dislike   555 views   3 comments   Watch (0)   Share   Quote  

I was told about this program by a co-worker of mine. Her son works
for Bank of America and she is telling people that they can get
mortgage forgiveness of principal for their investment properties with
this program. I don't know if this is true or not, but if it is we need to do something to stop this! Taxpayers money should not be spent to make investors rich!

http://www.makinghomeaffordable.gov/about-mha/latest-news/Pages/doj-state-reach-agreement.aspx

#housing

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New Renter   befriend (4)   ignore (11)   Thu, 8 Nov 2012, 10:34pm PST   Like   Dislike     Share   Quote   Comment 1

The link was last updated back in Febuary. It only claims banks will be required to reduce principle for homeowners with no mention of investment properties. Do you have a more recent link, one that specifies investment properties are also eligible for principle forgiveness at public expense?

lilo   befriend (0)   ignore (0)   Fri, 9 Nov 2012, 12:40am PST   Like (1)   Dislike     Share   Quote   Comment 2

I searched everywhere on the Internet yesterday and I could not find any information of restrictions for investment properties. I was hoping there might be a subscriber here that has some knowledge of this program.

HeadSet   befriend (0)   ignore (1)   Fri, 9 Nov 2012, 1:44am PST   Like   Dislike     Share   Quote   Comment 3

lilo says

Taxpayers money should not be spent to make investors rich!

Franklin Raines, Tim Howard, Jim Johnson, and the various friends of "if I take away thier bonuses, they will not cooperate with the bailout" Ben Bernanke. Add Brian Harrison to the list of made rich at taxpayer's expense.

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