 Quote:
Originally Posted by emilylynn
To the extent that these loans have been securitized and sold off to investors, it is no longer the lender's prerogative to renegotiate the terms of the loans. I am not familiar with what is presently being proposed in terms of a bailout, but if the government is suggesting that securitization trusts be denied the ability to exercise their remedies for the "greater good," this would be a truly astounding move.
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I read some of the articles to see what was being reported....
This seems to be the action that is being proposed... that the loan servicing company makes the call, not the actual owner of the loan... and the article said that there would not be gvmt money...
There were complaints from some that a blanket move would mean that there would be some people who can actually pay the higher rate get a break... and why would they want to do that.. they want their investment back...
And it is hard (impossible) for the gvmt to change a contract after the fact... so it seems like a lot of wind being spent for something that might not happen..
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