Banks Benefit From Plan to Aid Struggling Homeowners

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Banks Benefit From Plan to Aid Struggling Homeowners

Banks Benefit From Plan to Aid Struggling Homeowners

Banks profit regardless… thanks from the help of the government!

These same banks are caught day in, day out destroying you with fraud and they are NOT being stopped from continuing in the business that scammed you repeatedly!

WSJ-

A government program that helps struggling homeowners take advantage of low interest rates to cut monthly mortgage payments is providing an unexpected revenue boost to large banks such as Wells Fargo WFC & Co. and J.P. Morgan Chase JPM & Co.

Banks that collect those payments, known as mortgage servicers, could get as much as $12 billion in revenue this year refinancing mortgages under the federal Home Affordable Refinance Program, or HARP, according to data compiled by Nomura Holdings Inc.

Borrowers who refinance mortgages through HARP, on the other hand, stand to save between $2.5 billion and $5 billion this year, according to an analysis by The Wall Street Journal of Nomura’s figures.

[WALL STREET JOURNAL]

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