|My Mortgage Docs to be Reviewed by an Expert |
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PLEASE, SAY IT ISN'T SO! NO MORE SUB-PRIME MORTGAGES!
After hearing, yesterday, that Wells Fargo is "tip-toeing" back into the sub-prime arena, I just throw my arms up in the air in disbelief. Are we to suffer at the hands of the big banks over and over again? Is predatory lending, with the origination/securitization of mortgages just too profitable TO STOP? If the Courts, and the Attorneys are still confused about how the funds are originated, how the mortgage Notes are securitized, what role the PSA plays in securitized mortgages, how will real change ever come? We are doomed to face the fear of ever purchasing homes again if the mortgage contract is not changed. The mortgage contract MUST be re-written to protect both parties equally. Changing the mortgage contract would be one of the simplest, least expensive changes we could make that would make the biggest difference.