MORTGAGE CRISIS | Greed, Bonuses, Bureaucracy | Profit Motive Triumphs Over Law and People


— 2,000,000 homes in foreclosure; families evicted.

— 2,300,000 homes on verge of foreclosure.

— Law firms compete on ability to foreclose faster for less $$.

— Law firms get bonus $$ for foreclosing faster than agreed to.

— Law firms get penalized for not foreclosing fast enough.

— Some firms handled 70,000 foreclosures with just 12 people. Wham.
Bam. Thank you for the foreclosing fee.

— No human point of contact. Haste makes waste. Bank of America
foreclosed on one family even though they had paid off their mortgage
in full!

READ STORY: http://www.washingtonpost.com/wp-dyn/content/article/2010/10/15/AR20101015065…

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