Comments on: White House Skeptical of Plan to Seize Mortgages by Eminent Domain https://4closurefraud.org/2012/07/19/white-house-skeptical-of-plan-to-seize-mortgages-by-eminent-domain/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Thu, 19 Jul 2012 18:09:52 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: talktotennessee https://4closurefraud.org/2012/07/19/white-house-skeptical-of-plan-to-seize-mortgages-by-eminent-domain/#comment-393983 Thu, 19 Jul 2012 18:09:52 +0000 https://4closurefraud.org/?p=49822#comment-393983 Every hair brained scheme has been explored except the obvious! Keep people in their homes. Now the elderly are being forced out into the street! Foreclosing on old folks who banks “sold” predatory loans to in the inflated bubble. Largest class of foreclosures now, people in their 70s? Ludicrous. As an appraiser I am watching city implosion that will result in abject poverty. (Memphis) Predatory lending at its ultimate where minorities were targeted. Banks slurped up massive profits as contractors duped the elderly who owned their homes, on fixed incomes, into refinancing on ARMs/interest only loans that reset and now are losing them by the thousands. Foreclosures up in Memphis. City considering raising both property taxes and sales taxes, which unfairly impact the poor. Many all ages becoming homeless or moving in with relatives.
This is a nightmare and our government, both parties, ignores the plight of these people! They want to bulldoze or wipe the slate clean, start over but that isn’t going to work. There are no buyers, no jobs and no credit. Cash investors purchase and renovate and these also sit vacant. Rent packages sold to out of town investors now sitting vacant. No takers!
When will Washington recognize what the banks have done instead of allowing them to continue to rape the public! Can these people move into a house they own? The White House?
Inventory is down because loans are underwater, not due to sales. Except for the very wealthy most areas suffering major value loss that will never return. Banks are short selling or liquidating in record numbers, selling to investors, cash, pennies on the dollar to buy and hawk houses to unsuspecting Koolaid drinkers who can’t believe they can’t make that ‘million’ in real estate the books tell them anyone can do!

One day we will read in the history books and hear the lying lament, “If we had only known how bad it could turn out. . . “… . and they would have done WHAT?

]]> By: Ken Hansen https://4closurefraud.org/2012/07/19/white-house-skeptical-of-plan-to-seize-mortgages-by-eminent-domain/#comment-393954 Thu, 19 Jul 2012 16:54:44 +0000 https://4closurefraud.org/?p=49822#comment-393954 The “White House” could have done a number of things, but has refused to investigate, prosecute, or hold accountable any Bankster for years. The administration is corrupt.

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