Entity Dimarco News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Books. here's the good news, dimarco is on his way out and president obama wants to replace him with this man, congressman watt, on the banking committee and distinguished himself on borrowers and predatory lending, good news where the american homeowner is being screwed by the banks and powers in washington as well. we're reminded what happens when you don't give people a break in principle, the underlying amount of the mortgage they've taken out, you don't discount that price you get the long foreclosure process that has been happening in this country since the great recession and evolved wh...

Fhaa. and the other is the administration's theory and this book about tim geithner talking about a program created by the administration as part of the t.a.r.p. money to help people work through foreclosures. we estimate the banks can work through 10 million foreclosurs s provides they dohelp foam the runway for them. >> all my discussions with the administration, they claim they are in disagreement with dimarco. he put out a report where it seems to say to me it showed excellent evidence we should have principle reduction and the went the other way. >> you borrowed $200,000 for your home and...

Administration as part of the t.a.r.p. money to help people work through foreclosures. we estimate the banks can work through 10 million foreclosures provides they help foam the runway for them. >> all my discussions with the administration, they claim they are in disagreement with dimarco. he put out a report where it seems to say to me it showed excellent evidence we should have principle reduction and the went the other way. >> you borrowed $200,000 for your home and your home is now worth $100,000 rather than reducing your interest rate or monthly payments, the bank says we will write down...

Reducing your interest rate or monthly payments, the bank says we will write down this loan, no longer a $200,000 loan, a $100,000 loan or $150,000 loan. >> they made it clear from the treasury department to dimarco they were fully supportive of a principle write-down and they felt f ha would require administrative costs and go beyond the dollar set assigned the hamp program and the treasury department would help. >> explain that. there's this program passed as part of the bailout called hamp. they spent essentially none of this money, homeowners haven't been help ed with this program. the adm...

Treasury department to dimarco they were fully supportive of a principle write-down and they felt f ha would require administrative costs and go beyond the dollar set assigned the hamp program and the treasury department would help. >> explain that. there's this program passed as part of the bailout called hamp. they spent essentially none of this money, homeowners haven't been helped with this program. the administration said whatever you need to do. >> we will go beyond the program administratively to help it work. dimarco's pushback, this is an administrative cost to us plus the homeowners ...