Open Question: Would everyone refinancing home loans at neighborhood banks solve the

[Administrator]

Neighborhood banks don't look at customers as a percent they are concerned about the look of a neighborhood (abandoned homes) they may still use their professional knowledge as a way to prevent homes from going in to foreclosure rather than a way to steal money from unsuspecting customers. They can also take in to account employment in the area and help to fight to keep it in the neighborhood. If someone in India has stocks in a BOA mortgage it is more beneficial to give no leeway or modify a lenders mortgage with when job loss and the desire for insurance companies pay when disaster hits. It is perfectly obvious by the threats in congressional hearings to day they could care less that 200,000 forclosures a month has no affect on their bottom line. In fact to seize a foreclosed homes equity(my $40,000) is to the benefit of their bottom line.

More...