“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.
Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.
