This is just disgusting. BlogIT is considering his options on a deeply underwater mortgage. He's been trying to contact both Bank of America and government hotlines to get a mortgage modification.
But the banks got their bailouts; they're not gonna help the borrowers out.
In fact, Bank of America lied to him and threatened him with a huge tax liability in order to intimidate him into continuing to pay. Despite the fact that Congress passed the Mortgage Forgiveness Debt Relief Act which exempts these cases from tax.
I hope Ken Lewis gets the cell next to Mozilo and trembles when he hears the orange midget's screams in the night.
The experts agree We're going Full MMT So start buying gold Mauldin Economics on the prestigious Camp Kotok economic gathering: ...
CNBC : As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest...