Lender And Creditor Modifications Should Be Legally Mandatory

If the government of the United States had legally mandated both lender  and creditor modifications in all consumer debt level categories back in late 2004 and early 2005 when America’s record breaking amounts of massive payment delinquencies started the entire real estate market and overall economic financial crisis could have been avoided.

List Of  Bullet Point  Reasons Why

1.   Lending industry losses would have been substantially reduced

2.  Insurance industry losses would have been substantially reduced

3.  Massive amounts of negative cash flow would have been avoided

4.  Bail out requests would have been substantially reduced

5.  Bail out money would have been substantially reduced

6.  Bankruptcies would have been substantially reduced 

7.  Real estate pre-foreclosures would have been substantially reduced

8.    Real estate foreclosures would have been substantially reduced

9.  Supply of real estate for sale and rent would have been reduced and

10. I could go on and on with this list but I won’t

Why Hasn’t The Government Mandated Modifications ?

The truth of the matter is that legally mandated lender and creditor modifications in all consumer debt level categories even now would go a long way in significantly helping to stabilize the U.S. real estate market and overall economy and gradually getting them back on track. So why then isn’t our government  passing emergency and radical legislation to accomplish this ? 

 Implementing this concept is so common sense Economics 101.

 Oh I forgot common sense isn’t so common anymore but irresponsible, immoral, unethical and illegal business practices are.

Respectfully

Phil Mitsch

mitschseminars@comcast.net

philmitschuniversity.com

856 – 783 – 1302