news4 - Home truths: Preventing foreclosures wont fix...

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Home truths: Preventing foreclosures won’t fix America’s housing mess. Encouraging banks to write down mortgages might. The Economist: Author Not Listed Posted: Thursday, October 21 st , 2010 <http://www.economist.com/node/17308991> Document Word Count: 664 Summary: This article is about how the banking lenders are once again the spotlight in the media. The difference this time around is its not about how bank lenders carelessly issued loans out, it’s about how they are carelessly dealing with the defaulting loans as a direct result. Many investigations are now surfacing about lenders following legalities for taking over defaulted loans. Some politicians are asking for a moratorium on repossessions, which means they want to delay foreclosures for checks and balances in the lending institutions. These delays are the last thing needed in America’s dying housing market. Ideally, more money than the house is worth. So with this in mind, the American economy would be much better off if lenders restructured loans, rather than foreclosing on them. The down politicians should be
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This note was uploaded on 02/18/2011 for the course CGS 1100 taught by Professor Smith during the Fall '10 term at St. Petersburg College.

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