AMI, the Association of Mortgage Investors, definitely has it right by trying to get bank bailouts to stop. There is nothing worse than bailing out a big bank when it has responsibilities and plenty of explanations that it could be making for its actions. However, what I think really doesn’t matter to anyone who is making the decisions right now. Looking back, what did those big bank bailouts really do? They certainly didn’t turn our economy around as the banks were begging for big money, did they? Did they do right by the consumers that were suffering?
This past week while all the big boys were arguing about foreclosure settlements and more, AMI was there to just say, listen; what we want to see happen is those who messed up need to be punished, but those who didn’t do anything shouldn’t have to suffer. Not all investors did wrong, so why should everyone get punished? It’s like the few kids in the class who were caught talking in class, and so now the whole class has to write sentences over and over; “I WILL NOT TALK IN CLASS”.
As sad as it, I get it; I know that we are in trouble, and while people are looking to buy before rates go up and more changes occur, there just aren’t enough hours in the day. I am here to help those who are looking for a better loan; an FHA loan. This means not only will the loan be insured for the bank, but this means that FHA is there to help you keep your home should a problem arise. Maybe if there were more FHA loans or loans that were done in the best interest of the borrower, these banks wouldn’t have to worry about their bailouts in the first place.
-Mayer Dallal
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