Major financial institutions through their lobbiest have control being held accountable for the foreclosure epidemic in our economy. They deflect their responsability by blaming the collapse of the economy on the borrowers that have defaulted. The financial failure of the American households has made the bottom line very profitable for the banks too big to fail.
These banks operate by passing other people's money back and forth among each other, until they reach the right balance of good and bad loans that causes the pool to default and buy insurance that pays off upon default.
They loaned money based on terms that would produce certain failure within any economic fluctuations. Without predatory lending, there would have been far fewer foreclosures and milder economic challenges.
About Me
- Maria E Brackett
- Hialeah, Fl, United States
- Serving the South Florida Market since 1974. FIU BBA 74 and MSM RE 78. Miami Association of Realtors 2011 Governors Board of Directors. Largest Realtor Board in the Nation. Northwestern Dade Association of Realtors 2007 and 2011 President. Florida Realtors 2006-07, 2010-11 Director. Member of the National Association of Realtors. Owner - LandPro International
ELAN Construction, Inc.
Great General Contractor
Tactically Sharp, Inc.
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