You may have heard in the news recently about the mortgage settlement that has been agreed to by some large banks and the Obama Administration. I believe this will temporarily help some homeowners that are having trouble paying their mortgage or have been foreclosed on recently. I think that’s a very noble cause.
My only question about this whole deal is that the banks were forced to do this to fix “some of the mortgage abuses over the last few years that caused people to lose their home.” This quote was taken from a recent Realtor Magazine article. I want to know what the mortgage abuses were and which banks were responsible for them. Otherwise the election year cynic in me will think this is just another vote-buying scheme.