Oct. 18, 2010 — Foreclosures In Missouri Wayne Godsey, KMBC President And General Manager

HOW MUCH $ IS THIS SCUMBAG AG GETTING PAID BY THE BANKSTERS?

POSTED: 7:27 pm CDT October 18, 2010


KANSAS CITY, Mo. — Missouri Attorney General Chris Koster made the right call when he chose not to interfere with home foreclosures in the state. 

Koster’s decision was in response to a request from Kansas City Mayor Mark Funkhouser and a group called Communities Creating Opportunities. 

It is sad to see anyone lose their home, particularly when it’s the result of a lost job or other unfortunate circumstances. But many people simply paid too much for homes, thinking that values could only increase. 

Some lenders like Bank of America and Chase have voluntarily suspended foreclosures in order to review internal procedures. If faulty practices exist, they say they’ll correct them. 

But a government-dictated moratorium is a bad idea, just like the government lending policies that created the mortgage crisis. If individuals can’t pay their mortgages, foreclosures are necessary to stabilize the real estate market, for the benefit of homeowners and lenders alike.

 

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