I am confused about the mortgage modification policy that is currently in place.

[Riley18]

Romney recently put his position on the foreclosure crisis out there. He said that the homes should be quickly foreclosed upon so that the market could stabilize. There was considerable criticism of this harsh attitude.

The part where I am confused is where exactly does his statement conflict with the current policies? The banks are not in any hurry to modify mortgages because they make more money foreclosing on them. The president is saying only "responsible" homeowners should be helped. So where does that leave all of the families who used to be responsible until they simply ran out of resources to keep paying while the banks fiddled around with their fake modification scheme?

[BlueToTheBone]

1. We were having that same discussion on another

thread and it is so freaking screwed up. It is as though people who ran out of money first get the bigger stick up the butt and hope is dangled to those who still have $.50 left in the bank to keep on holding on...and the stick will come later.

[Riley18]

3. Yes, that is it exactly. The people who have been trying to work with the banks to modify

their mortgages for the last three years have become the deadbeats and the banks are off the hook. Now the government is going to focus on the "responsible" people instead of those that have been beaten down by the banks who have time on their side. The plan must have always been to have the banks sit tight and wait out the political timebomb created by the excessive financial bailout they received. Then the political dialog is changed from "bad banks" to "bad homeowners", and everybody forgets the actual sequence of events.

[msongs]

2. the one where if you skip payments you have to move out of the bank's house lol nt