AFSCME 3357-HOF'S BLOG

"They're Lying Bastards"
Lenders are still not fulfilling Mortgage Workout Promises

Here's a link to a Reuters article that confirms what I've been seeing and hearing about concerning the alleged workout deals for problem mortgages. The writer, Nick Carey cites several sources in support of the conclusion that most consumers are not getting helped by foreclosure avoidance programs. On February 5, I called the loans that were being promised by the President's "Hope now" program Luna Loans. I call them Luna Loans because Harry Potter's pal, Luna Lovegood, is the only one who has ever seen them. Maybe we could call them "Great Pumpkin" loans, because you can see them if you are very, very, very sincere. No, I like the term "luna loan".