Report Foreclosures

Why The Major Banks Fail to Report Foreclosures

Despite holding net worth of more than 10 billion dollars, banks are still failing to report foreclosures. While it is understandable to be concerned over Files of the world’s largest financial institutions, maybe the US and UK governments should also take action to shut these institutions down. If we don’t do something, the imminent financial collapse will mean that the majority of banks will be heading under water.

The problem isn’t that these banks aren’t reporting foreclosures. The problem is that the state governments own these banks, therefore any action they would have taken to prevent the foreclosures, is effectively impotent. There are two main reasons why this matters and the first is that the price of putting a foreclosed house on the market is just too high. To cover the back of the mortgages is the surest way that the banks stand to lose, and therefore they will never tell you about a foreclosure, unless asked directly, even if it’s on their assets list. In the UK the banks have been accused of dragging their heels on foreclosures for as long as six months! 당일 신용대출

The second issue involves regulation and government intervention. In the US the Mortgage Assistance Relief Program (MARP) was set up in 2008 to help people in danger of defaulting on their loans. The problem is that nothing has been done to assist those whose houses are in danger of foreclosure. Now the direct contact between the banks themselves and the state government, is proving difficult – the banks are very reluctant to change their bad lending habits and make changes to save their own skin. The situation is being compounded by the high level of unemployment and the extortionate state and centraluntary charges so far only in the UK and US.

If you are worried about having your house in danger of foreclosure, you can seek professional advice from an experienced, specialist company offering risk management services and mortgage solutions. Such a company will have benefitted from over a decade of experience in helping mortgage holders in the UK and US. The MRC offer is proactive risk management and mortgage debt management consulting, our experienced team will take your and your family’s concerns on.

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