The problem is, the lenders learned that there was no accountablity expected from the state or federal governments to negotiate a distressed mortgage in good faith. As in general society, it is not a crime to be stupid. The lenders are allowed to make any...
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The problem is, the lenders learned that there was no accountablity expected from the state or federal governments to negotiate a distressed mortgage in good faith. As in general society, it is not a crime to be stupid. The lenders are allowed to make any number of mistakes in their troubled asset investments without legal penalty. Forensic loan audits seemed to work for awhile in twisting the arm of a lender to negotiate a mortgage modification. Not anymore.
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