Via ZeroHedge: Banks Commence Wholesale, Unsolicited Mortgage-Debt Forgiveness

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Save_America1st
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Via ZeroHedge: Banks Commence Wholesale, Unsolicited Mortgage-Debt Forgiveness

I'm sure most of you already spotted this on ZH today, but if not, I highly recommend you read it top to bottom.  And that means reading every post submitted by the readers below it.  This is definitely a set up and will perpetuate further banker crime against the American people.  Lots to learn from those who contributed their thoughts, opinions, and in-sites below this article today for sure!

Banks Commence Wholesale, Unsolicited Mortgage-Debt Forgiveness

Happy 4th to all!

Edited by admin on 11/08/2014 - 06:06
LaMachinna
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Whoa!

surprisesurprisesurprise

And it begins......talk about some wealth redistribution...

Thanks for the article! 

thecoloredsky
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A couple questions:

1) Does this only affect ARM mortgagees?
2) How does the lender write off the 50% reduction without going bankrupt? Are they still are sitting on cash from QE's to balance their sheets?
3) If you accept the write-down, does that qualify for income earned on your taxes?

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