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Blame the Banks, Not the Homeowners, for the Mortgage Crisis (PART 3)

Posted by Elliot S. Schlissel, Esq.

Modifications Are Superior to Foreclosures

The granting of mortgage modifications to worthy homeowners is a much better policy for the banks, the homeowners and the economy in the United States. However, the banks don’t get this! If the banks were to modify mortgages, in most situations, they would end up making more money, the homeowners would have a place for their family to live, the foreclosure volume in the United States would go down and real estate prices would start to rebound.

Foreclosures Have a Negative Impact on the Real Estate Market

The huge volume in foreclosures is having a crushing impact on the real estate market in the United States. Who is to blame for this mess? The banks and other financial institutions!!! They created the mortgage bubble by improper mortgage lending practices and they made the foreclosure crisis worse by failing to set up reasonable appropriately financed and managed mortgage modification programs. The Federal government bailed out the banks when they had financial problems. The banks were supposed to help the homeowners who were in financial trouble. They have failed miserably in this endeavor!

Foreclosure Defense and Loan Modification Lawyers

If you are involved in the above referenced foreclosure mess or have problems with mortgage modifications, we can help you. The foreclosure defense lawyers at the Law Offices of Schlissel DeCorpo have been assisting our clients for more than twenty years. We have dozens of foreclosure defense cases pending throughout the courts in the Metropolitan New York area. We attend foreclosure conferences for our clients. We help negotiate mortgage modifications. We are familiar with the mortgage modification programs that fail. We are adept at litigating defective foreclosure lawsuits, predatory lending and bad faith of financial institutions. Call us at 1-800-344-6431, 516-561-6645 or 718-350-2802. We can help you!

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