By: yvonne

yvonne — Wed, 20 Feb 2013 18:35:06 +0000

the actual name should be the recycling of fraudclosure homes…ousting the homeowner out of the homes so they are forced to become renters of their own homes….

By: talktotennessee

talktotennessee — Wed, 20 Feb 2013 14:55:08 +0000

The statement that new buyers of NPL are interested in working out modifications looks like fluffy icing on an old cake. It tends to melt away. You can’t dress a pig in silk and expect much. I don’t say this to be disparaging to homeowners, quite the opposite. I see this rhetoric as public relations championing more gambling on the lucrative housing market remains. NO, do you really thing they are going to help homeowners on these faulty loans with broken title, missing paper work? NO, No, NO! They will liquidate and with low inventory and housing recovery, they will liquidate those houses in a NY minute. Now that the government is in sequester mode, housing programs are a thing of the past. New upward stats on housing being touted by Trulia, RealtyTrac and don’t for the NAR (Realtors) everyone is ready to MOVE ON and leave the underwater, distressed people behind.
In non-judicial states and now increasingly in rocket docket judicial states, this means ramming this stuff into foreclosure liquidation mode and a quick recovery!
Why any of us still believe in fairyland, cinderella stories, I can’t imagine. For the most part the only people recovering is those that led us down this primrose path in the first place. Can you say banking? Financial sectors are still gambling and winning. The cost of doing business is paying off the civil suits and negotiating to get out as cheap as they can. A few AGs, municipalities, the DOJ, SEC and few government entities get paid off and the homeowner gets peanuts or nothing except a home on the curb!
Yes, I am angry. There is no justice and it is personal but that’s another story!

Comments on: Bad US Mortgage Loans Now Big Business on Wall Street

By: yvonne

By: talktotennessee