Lenders Need to Save their Necks.
Published On: April 12, 2011 Posted by: TownsRealty
Experts are of the opinion that only mortgage lenders can help themselves in the present condition. This can be achieved by reducing principal as well as interests owed by the borrowers. No, the reduction should not be restricted to monthly payments; rather it should include the principal mortgage loan amount. However, lenders are refusing to do so and are in no mood to reduce either principal or loan amounts by a single penny. The government is not playing its part either. Government intervention is vitally important for the revival of real estate market at this moment as long as it is not coming from Barnie Frank who was a huge contributor to this real estate collapse over two years ago.