Unbelievable. And do you want to know why banks weren't modifying loans? Because they make more money in a foreclosure. Because it's all about money.
And now we find out that our government has no teeth.
"In testimony before a House Financial Services subcommittee, Phyllis Caldwell, chief of Treasury's Homeownership Preservation Office, said her department has pursued "non-monetary remedies" but has not actually imposed any fines on banks for not complying with the administration's flagship $50 billion foreclosure prevention program."
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