Not surprising
April 6, 2010 | federal legislation, industry | Comments (0)Senator Dick Durbin who introduced a 36% rate cap bill last year is pushing the CFPA on Chicago radio during the Senate recess. At least he’s not talking about us:
Durbin says that predatory lending is no longer the main problem facing struggling homeowners. He says many homes have lost significant value leaving homeowners “under water.”
“Even if they want to move, these families are stuck, because they often can’t pay off the mortgage even by selling the house,” Durbin said. “Far too often foreclosure is the only option left.”
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