Parsad Posted January 18, 2012 Share Posted January 18, 2012 Government is close to a deal with banks to writedown the principal on nearly a million mortgages! Cheers! http://finance.yahoo.com/news/donovan-very-close-foreclosure-deal-172113197.html;_ylt=AnIyAMAzrjv7mBfRIsFgPIWiuYdG;_ylu=X3oDMTQ0cGphMDQ1BG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDZDEzZGJjNDUtMTgzMC0zYmQ5LTg2N2MtYTI2ODQ4NWRkNjE3BHBvcwMxBHNlYwN0b3Bfc3RvcnkEdmVyA2YwNDJlZjkwLTQxZmYtMTFlMS1iZmZmLTMzNTRjYzY4NWIwOA--;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3 Link to comment Share on other sites More sharing options...
ERICOPOLY Posted January 18, 2012 Share Posted January 18, 2012 Houses in foreclosure over 180 days are already written down to realizable liquidation value. I take it (my hope) the deal would only be for such houses (thus it costs the banks nothing). Link to comment Share on other sites More sharing options...
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