Mike Heath

Realtor

Gaylord

700 W. Main Street

Gaylord, MI49735

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Main: 989-732-6777 Office: 989-619-0400
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Fed Chairman, "Banks - write down principle"

Bernanke advises banks to get more active with their portfolio prior to foreclosures:Money quote:Bernanke advising banks to consider writing down principal: "Principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure. . ."My perspective Bernanke appears to trying to protect market prices by having banks provide ...
Posted by Mike Heath @ 8:18 AM on 03/07/2008
Tags: Bad Business News Fed Foreclosures Market Pressure National Real Estate News Taxes
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