Another San Diego bank takeover, failure due to ‘bad’ mortgage loans.
posted on 2/20/10 in Uncategorized
The San Diego Union-Tribune reports, this morning:
http://www.signonsandiego.com/news/2010/feb/19/la-jolla-bank-seized-by-federal-regulators/
Another San Diego bank failure due to the mortgage lending fiasco. This is the 4th area bank in recent times, to fail. Will the administration and Congress ever act to allow true mortgage modification in Ch. 13? There are folks who would like to stay in their homes and pay something for them, after all. But, 7 million empty homes held by banks as real estate owned properties doesn’t seem to bother our ‘leaders’. And what about this One West outfit? Are they becoming ‘too big to fail’?
