Saturday, May 14, 2011

Foreclosure Crisis: The Banksters PR Machine

As the Foreclosure, Housing crisis continues and drags on, Banks maintain their PR war against the victims.  Just last week, Bank of America announced the opening of more "Help Centers" to assist homeowners with their mortgages.  We know the results of such "Help Centers", the homeowner is asked to bring all the documentation, fill out a massive paperwork and to wait for a decision on a later date.  What happens next has been broadly publicized,  Paperwork is lost, misplaced or simple rejected.  In some cases, as a matter of PR, some mortgages are only on  "Temporal Modification".   At the end of the day, the numbers don't lie, homeowners are not helped.

The Banks have enjoyed billions in bailouts from taxpayers, but like the story of the snake that was found almost dead, you took it in, help her to health and when back to life, the snake will always be a snake, it will come back to bite.

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