Relevant:
- Oh God! You knew this was coming
- Geithner is Allowing Banks to Recapitalize on Backs of Homeowners, or... Games Bankers Play
- An ugly foreclosure story, starring Bank of America
- banks continue to foreclose on those seeking loan modifications
- MAKE A STAND AMERICA – CHICAGO FAMILY REFUSES TO LEAVE HOME AFTER FORECLOSURE FRAUD
2009-09-03 — ml-implode.com
``Why would a bank chose to foreclose and evict when there’s already someone living in the house who would love to buy it. By modifying the loan, the bank won’t have to pay all the associated costs of foreclosure, and then put the property on the market where it might not sell for some time. Selling an REO? Lucky to get 50% in some areas. Why not just write down the loan for the homeowner and save all the trouble? Again, it makes no sense.''
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Comments:
dbaumer at 01:41 2009-09-04 said:
Martin - You didn't mention the defeat of the BK cramdown legislation, WHICH OBAMA CAMPAIGNED ON AND WAS THE FIRST PIECE OF LEGISLATION INTRODUCED AFTER HIS INAUGERATION! dbaumer PermalinkMortgageDrummer at 02:53 2009-09-08 said:
Pretty soon there won't be any backs for the government to ride on! We will all be under a bridge getting our children ready for school!! There is no unemployment benefits for the small business owners. . We were the ones that were able to hire the local hard working people .. Where is our help . . we were the ones that use to pay health insurance and wages to our local community. . . now look .. . . The small business is out of business with no health insurance (because Obama says because I had less than 100 employees I can't get cobra). . . Now at 52 years old and when I need health care most. . with almost a nervous breakdown of having to loose everything . Now with "all" the stress here comes cancer and every other health issue that comes with stress and worry. . First time in our lives our family has no health insurance after paying for the last 20 years as a self employed business owner. . .an average of $1,500.00 a month for a family of 4. . Now what do we do??? Un-employed!!! Now will be the time to get sick because we are so stressed out !!! We lived a very healthy lifestyle until now. . can't sleep, can't eat , our daughters are sick! Somebody give me a pill , then at least I can go around like Jack Nicholson in One flew over the CooCoo's Nest. . Duh,,, really we are all screwed??? it's ok. . .????? Go lay down and take your meds. . .That's what we need is more anti depressant pills. . Just cover up the truth. . . we'll feel better . . . I just want to wake up and have it all be over. . . :cry: Permalinkadd a comment | go to forum thread
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