The revised HARP program will help a few homeowners and investors at taxpayers' expense. It will release refinancing lenders from liability. And most disappointing, it may have no discernible effect on improving our economy.
Attorneys often tout bankruptcy as an easy way to get out of debt, but they downplay some of the serious long-term consequences. Before you decide if bankruptcy is right for you, consider seven realities first.
Banks profited by packaging and selling those toxic home loans. Then they profited again by betting against those same securities. A bet, in essence, that a fraudulent loan wouldn't be paid back. But why would politicians allow this?