Quote of the Day 
December 2, 2012

'Recent signs of a housing recovery aside, nearly
three million loans are now in or near foreclosure,
according to Moody's Analytics. In addition, some
five million borrowers who are current in their
payments have high-rate mortgages that they have
not refinanced, in part because of excessive bank
fees. In all, nearly 12 million borrowers collectively
owe $600 billion more on their mortgages than their
homes are worth, a loss of wealth and a load of debt
that make a strong and steady economic recovery all
but impossible. '

Editorial 
New York Times 
December 2, 2013

http://tinyurl.com/bwa69wp