Interest Only Loan Modifications???

 

Does anyone else feel that this depicts main stream media's reporting on what really caused the mortgage meltdown?

Does anyone else feel that this depicts main stream media's reporting on what really caused the mortgage meltdown?

 

 

 

 

    Chase and Bank of America are considering doing interest only loan modifications.  Isn’t this what got us into trouble to begin with?  Really what is next?  Is Citibank or Wells Fargo going to start offering cash out interest only loan modifications?  If the banks do offer interest only loan modifications then please remember that the banks are making this possible and not Brokers.  This is two of the big four considering offering 100% interest only financing to a homeowner or in this case a loan modification.  Where is main stream media and why are they not reporting this?  Where is Barney Frank on this issue?

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