Detailed text transcripts for TV channel - MSNBC - 20111030:12:08:00
For 20 years and then have it cancelled. i read one calculation that looked at a typical borrower that is $80 a month, and the refinancing on the mortgages are for loans owned by fannie and freddie for people who have under water mortgaged but are current. the mortgage policy preserved the central obamaism problem, and there is no principle reductions. there's losses on the books, and nobody wants to take the losses, and certainly not the banks. >> but he did a loan modification program that has been in effect -- >> right, and it has been a colossal failure, i have to say. >> i know people who...
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