There was a Judge, a Federal Reserve Chairman and a lawyer, each pondering why the mortgage mess keeps dragging down the overall market economy. The Judge could not believe banks would not rewrite loans for a small loss to avoid taking a bigger loss in foreclosure. The Fed Chairman publicly encouraged banks to rewrite loans instead of allowing billions of dollars of loans to go into foreclosure. A common sense solution from the attorney finds its way in my blog A Common Sense Mortgage Solution From An Arkansas Attorney appearing at the Mortgage Law Network site.
Andy Miofsky, Esq.
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Last modified: October 22, 2012