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Bank of America forgiving mortgage loans
Finance Yahoo ^ | 5-8-2012 | edcoil

Posted on 05/08/2012 10:05:22 AM PDT by edcoil

click here to read article


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To: tankrlm

No freedom loving American should have anything to do with BofA.


41 posted on 05/08/2012 1:58:33 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: dfwgator; Tijeras_Slim
“Yes, this is a better arrangement... More just.”

OK. Wow. I haven't seen that movie in, years, but that is exactly what came to mind with that single still.

How come I can't remember someone's name that I met 5 mintes ago?

42 posted on 05/08/2012 2:10:43 PM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: edcoil

AVERAGE of $150K?

Hell, that would pay my mortgage off!

What a responsible fool I have been! I should have stopped my mortgage payments when I was laid off.


43 posted on 05/08/2012 5:01:59 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: MichaelCorleone

You are absolutely right. BOA is a good example of what happens to those who think they can bend under the pressure and survive. These thugs need to hit a brick wall in every way no matter what from day one.


44 posted on 05/08/2012 5:15:27 PM PDT by sheikdetailfeather (Yuri Bezmenov (KGB Defector) - "Kick The Communists Out of Your Govt. & Don't Accept Their Goodies.")
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To: sickoflibs; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; ...

All you have to do is ruin your credit rating for 7 years, and you get a deal : )


45 posted on 05/08/2012 10:49:38 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: edcoil

So, Bank of America wants to reward their deadbeats while their honest, responsible customers get nothing.
Tomorrow I am closing my BoA checking and savings accounts as well as my credit card.
I will do my part. Screw them.


46 posted on 05/08/2012 10:59:25 PM PDT by Lancey Howard
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To: Tijeras_Slim
Wait until you see stage 2 of the program...

I have resisted refinancing precisely because I don't trust what will be buried in the contract vis-a-vis "updated user agreement."

47 posted on 05/08/2012 11:03:47 PM PDT by papertyger ("And how we burned in the camps later, thinking: What would things have been like if..."))
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To: edcoil
CRIMINAL!!!!

Rewards for the irresponsible!

48 posted on 05/08/2012 11:12:19 PM PDT by dalereed
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To: stephenjohnbanker; sickoflibs; DoughtyOne; calcowgirl; Gilbo_3
All you have to do is ruin your credit rating for 7 years, and you get a deal : )

"From each according to his ability, to each according to his needs."


49 posted on 05/09/2012 12:34:58 AM PDT by ding_dong_daddy_from_dumas (Fool me once, shame on you -- twice, shame on me -- 100 times, it's U. S. immigration policy.)
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To: edcoil
Just so I understand how this works.

I buy a new Car. I drive it off the lot and the value drops
10% as soon as the tires hit the asphalt on the public highway.

I go home and miss a few payments while I cruise around without a care in the world. The Bank sends me a letter telling me that they will forgive a third of what I owe on the car and my Payment will adjust down accordingly.

Got it.

50 posted on 05/09/2012 12:49:50 AM PDT by Kickass Conservative (A day without Obama is like a day without a Tsunami.)
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To: edcoil

I just read something about this deal that seems funny.

This applies to mortgages owned by B of A. Does not apply to mortgages owned by Freddie and Fannie.

Doesn’t F&F own all the mortgages issued since about 2007 or 2008?

If that’s the case, then no one will qualify.

Given the corrupt nature of obama run banks, I would bet that all this is for show, obama takes the credit, and no one comes out better for the show.

Ptomkin banking at it’s best.


51 posted on 05/09/2012 3:50:45 AM PDT by Texas resident (Hunkered Down)
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