Italian Banks Freeze Mortgage Payments for Unemployed

VOLUNTARILY, Italian Banks took the SENSIBLE and COMPASSIONATE choice to allow mortgage holders who are in serious economic difficulty to suspend payments for up to one year, for those who have simply lost their jobs, who are on temporary lay-off plans, who were self-employed but have fallen out of business, and who have lost family members whose income supported the entire family.

The Scrooge and Non Thinking Wholesale Foreclosures that occurred in the US, not only mortally wounded the banks, but caused untold misery for hundreds of thousands of families who were the victim of Mortgage Fraud and Greed.

Original article
http://english.cri.cn/6826/2009/10/22/1601s524207.htm