I doubt this..
1. Home owner is making ALL payments- no eviction
2. Home owner HAS to refinance because of late
payments- BETTER READ THE NEW PAPER WORK!!
especially if you miss or short, Just 1 payment!!
3. Home owner goes to the O’bummer administration- Banks
better have ALL paper in proper order ( 1 line not
initialed?- off with the banks head- AND FOR GOOD
MEASURE CANCEL ALL FOREclosures!
Banks are in buisness to make a profit- you have an issue?-
Get a lawyer-sorry I am dealing with some relatives who lost their main wage earner -they cannot make payments, even
if they refinance- they will have to move, the family will be poor- one of the family members has health issues-
Welcome to the implosion! I moved all my 401k money to guarnateed accounts AND STILL THINK I AM NOT SAFE- private sector jobs are NOT materializing- Mcdonald’s,3M and soon all large corporations will need to cancel health benefits to employees ( plus reduce their head count!!)The Demon rats and RINO’s are out to destroy every fabric of our society.
AND the EVIL banks make for a good whipping boy.
“1. Home owner is making ALL payments- no eviction”
Do a google, numerous court cases.
“Banks are in buisness to make a profit- you have an issue?-”
No issue with profit. I do have an issue with failure to abide by property laws, committing fraud, perjury, or forging the homeowners signature on documents the homeowner never saw.
Some of the banks are evil and corrupt, mostly the big ones. Folks like Jamie Dimon are huge socialists and supported BO until very recently.
They loaned people money knowing the people couldn’t afford the loan. Then sold the loan for a huge profit. They took these loans and lumped them together and sold shares of them as a AAA rated security. They did this knowing the properties were overvalued. They also failed to follow property laws during this process.
Once the bubble on this pyramid scheme failed they sought a taxpayer bailout to cover their poor business practices and outright fraud.
So yes these companies are evil. Not because they are companies or because they make a profit. Because the people running them are criminal greedy bastards who don’t care who they hurt.
Holy cow, I quit frequenting FR regularly, come back, and see unbelievable discussions like this one.
I honestly can’t believe I’m seeing alleged conversatives arguing what they’re saying in this thread.
Banks lent $billions to homeowners. Homeowners don’t make payments. Banks dilly-dally on what to do. Situation gets worse. Banks overwhelmed with delinquencies and facing not just the lost property values, but also the expenses of foreclosures.
Federal government warns there may be repercussions for not giving people lots of leeway. They eventually pick up the pace of foreclosures ... and resolving the uncertainty in the housing market. The bank used personnel to review files and fill out the foreclosure paperwork. Those personnel aren’t authorized to sign and bind the bank (why would a multi billion $ bank want a data processor binding it in court documents?). The affidavit gets signed by an authorized signatory who didn’t review the 10,000 files this month but who relied on the bank’s data processors.
Voila. Plaintiff lawyer vultures smell money to be made. Obama administration smells a way to get people who made poor financial decisions relief on the backs of ... the people who didn’t make bad decisions with their houses. Have the Justice Dept. “investigate.”
Good grief this is sad on here.
In the meantime, foreclosures stop, so the real estate market freezes back into its hold pattern — meaning it WILL NOT IMPROVE ANYTIME SOON. This is yet more uncertainty in our economy. Its positively killing those of us in the real estate industry.