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Department of Justice $25 Billion Mortgage Relief Program

By lilo   2012 Nov 8, 8:10am   708 views   3 comments   watch (0)   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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1   New Renter     2012 Nov 8, 10:34pm  ↑ like   ↓ dislike   quote    

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?

2   lilo     2012 Nov 9, 12:40am  ↑ like (1)   ↓ dislike   quote    

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.

3   HeadSet     2012 Nov 9, 1:44am  ↑ like   ↓ dislike   quote    

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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