You Paid for Their Happy Smiles. A Lovely Couple From Stratford CT – Nom de Plumber’s Thought of the Day

ndp   Nom de Plumber is a Nom de Plume

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http://www.nytimes.com/2012/08/05/realestate/connecticut-in-the-region-relief-for-distressed-borrowers.html?_r=1&ref=realestate
FACT 1: These borrowers became delinquent in 2006 (six years ago).
FACT 2: Payment delinquency persisted into 2009.
FACT 3: Their foreclosure was deemed faulty, notwithstanding FACTS 1 and 2 (borrower nonpayment).
FACT 4: Lender, as settlement, forgave $159,000 of loan principal.
FACT 5: You as a bank depositor, pension-fund beneficiary, or life insurance policyholder ultimately ate the loss.
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Thank you.

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