yes you are absolutley right!!!! and i am not hiding it either. wells fargo put us in a stated income loan unkowningly to us. i was working as an RN for 19 years. isent paycheck stubs and w2 form. what happened i think i did not qualify for this home so they decided to give us the sated income loan where the broker was able to raise my income to fit the loan. how sad. i could not afford this home on the day i closed. god help us all

Pateriot,

I see that you live in a bubble dream, please come a little to reality, banks have taken the square and there are more losers than winners, the problem of the houses is only the beginning of the debacle, there are also problems with the loans of students that were sold like houses, there is also the problem of credit cards that are sold to debt collectors, but as the same as houses are sold many times, and finally all loans are paid by insurance carriers which are financed by banks and these banks are bailed out with money from taxpayers, it comes down to a virtuous cycle that ends with the manufacture jobs, create unemployment, encouraging speculation and almost everyone loses; if the U.S. citizens understood the moral of the banks a revolution already had started; it is very good that you’re on the winning side, for the moment.

Thanks

What cave have you been living in? I had an atty. at closing w/ 37k down? Two loans were taken out without our knowledge. Apparenty the mortgage broker had sets of papers for closing and sets of papers that he was really going to — USE (as in USURY) as the actual papers. This was a VA loan to boot. (No need to thank my husband for stepping up to the plate volintarily to cover your uneducated sorry ass!) The old bait and switch was used on us. We thought we were getting a thirty yr fixed rate VA gaurenty loan and what we got was stiffed. You should be ashamed of yourself for not looking into this fiasco further before you make statement that you know nothing about. Don’t forget these pretitors affect you too, your home values, taxes, and everythiong else that goes along with the fraudulent acts that these bankers, title insurers, and mortgage brokers do. I wish you no harm but your comment implys that you are ignorant as the day is long! Remember “karma is a B—H”.

Many loans were given to people who could not pay them back, intentionally, by Banks that knew what they were doing. What do you call this? Loansharking. It’s really no different then what was outlawed in the past. Loansharks used to be prosecuted, it’s as simple as that.

You are a complete simpleton to think this applies to only people who has not payed thier bills. Now hear this and hear it well, we’ve always paid our bills on time everytime, we’ve owned millon dollar homes and such. That did not stop a collection company from fabricating documents to allow for a foreclosure suit to be filed on a home we no longer owned. No one knows where the original deed is. Now what about the buyer of this home? After researching the chain of title I find the buyer dosn’t have it either. Now can you please think before you speak a#$hole.

You are so wrong….many have made all required payments, yet because of bank error and the financial collapse banks decided to start TAKING homes. This was aided by securitization, where you can’t even find out who ‘owns’ the debt (a requirement), which aided foreclosure of the homes because you can’t prove they don’t own your home. PROVE TO ME THAT I DON’T OWN YOUR HOME!@

How does a person get an attorney for a case when the prior attorney we hired withdrew leaving us with a complete mess.The Magistrate granted his withdraw for no reason. I know first hand there are judges out there working for the banksters. Every attorney we contacted has told us the same thing.. So Matt you haven’t done your homework, The common usophisticated person has no chance against a bank who has unlimited funds. You say these judges and courts are sympathetic to the people who own the courts, I say you have been brainwashed, and are out of touch with reality. Would you like to start over??