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MSM: Obama Looking Good as Economy Made Huge Gains With a Million Consumers Paying Ten Out of Last Twelve Mortgage Payments
1 posted on 07/19/2012 9:36:45 PM PDT by lbryce
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To: lbryce

Our second property’s loan is with BofA.
We have tried with every new program to refi, last time.....took four months and the day before we were to sign they said “oh wait, no”.
They in general are hideous to deal with.
We bought our current home from a person who was short selling and their loan was held with BofA, it took six months to close even though we were putting 35% down.
Ok, I looooooath BofA.


2 posted on 07/19/2012 9:42:16 PM PDT by svcw (If one living cell on another planet is life, why isn't it life in the womb?)
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To: lbryce

First off the banks have been provided multiple ways to put their bad loans on the backs of the American Taxpayer. Some directly through Obama’s sham programs. And then of course the FED is buying a lot of it.

2nd many of these loans are NON-Recourse. That means that the bank can get nothing except the house if they foreclose. As I understand it then if someone goes for one of these programs then the loan becomes A Recourse loan. The borrower is liable for any balance left even after the house is sold.


3 posted on 07/19/2012 9:52:06 PM PDT by Revel
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To: lbryce

BoA is super slimy. Avoid at all costs.


4 posted on 07/19/2012 9:54:47 PM PDT by upchuck ("Definition of 'racist:' someone that is winning an argument with a liberal." ~ Peter Brimelow)
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To: lbryce
Since the mortgage industry REFUSES to fund a loan at the borrowers loan owed amount , the LENDER should be held liable for the loss, not the borrower , because the lender stole the equity and property value by refusing to loan at market value thus effectivly driving down home values,

It is entrapment into an upside down home value that was forced by the mortgage banks NOT BY the real estate market, Mortgage holder cannot sell and is trapped by embezzlement of his home value by the lending institution.

8 posted on 07/19/2012 10:55:25 PM PDT by KTM rider
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To: lbryce

bump


9 posted on 07/19/2012 11:54:10 PM PDT by Dogbert41 ("...The people of Jerusalem are strong, because the Lord Almighty is their God" Zech. 12:5)
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To: lbryce

All the BofA branches in my town were closed today due to bomb threats... all of them.


10 posted on 07/20/2012 12:15:26 AM PDT by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
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