What do you think of homeowners who stop paying their mortgages when threatened with foreclosure?
I can understand people get into trouble because they lose a job or have high medical bills but all sympathy goes out the door when I see them still living the high life. So they don't pay their mortgage but they "go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino."
Sorry but when you choose not to pay your mortgage you should not get to go to a casino or take your boat out for the weekend. This is completely irresponsible and so typical of the "it's not my fault" attitude of so many people with a certain sense of entitlement today. You are not entitled to live in a house for free and you are not entitled to go waste money at a casino when you are not paying your bills. These people are the lowest of the low in my opinion.
Ditto! The intent of these slime-balls is to plainly violate their contractual agreement and rip off (steal from) the bank and society (due to THEIR OWN mismanagement and mistakes, and NOT that of others) -- and expect everyone else that are keeping up with their payments to pay the price through higher interest, penalties, fees, etc.
Consider also how many times the loan was sold, making this that much more significant! It is no different than robbing one bank because they signed a contractual agreement (backed by LAW) with another that they now do not like.
These people belong in jail for their crimes; -- and, to set an example to others that such premeditated acts (making it plainly criminal) will not be tolerated.
And if you run a bank into the ground on bad investments, cook the books to make it look profitable, then rely on the taxpayers to bail you out, you shouldn't get to make any salary at all, much less enormous bonuses. But here we are. I have no problem with people "milking the system," when the banks and their grossly overpaid executives do it every day of the year. You know that if they were presented with a similar opportunity, they wouldn't even think twice about it. So if it takes "mortgage cheats" to recover some of that money, so be it.
Overpriced homes are encouraged by government to get more tax money.
Overpriced homes create more profit for realtors and homeowners on the move.
Banks lending to those that can't afford overpriced homes are profit seeking morons.
In the end all are to blame and all should be acknowledged for their part in this recession.
THANK YOU !
I see it as a good business decision on the part of the homeowners. The banks do what's best for them, I see nothing wrong with individuals doing what makes financial sense for themselves.
I don't want to justify what these folks are doing--eventually they WILL lose their property; however, if they were a bank, they could just ask for a bailout while handing out salary bonuses to the execs who in any sensible job would merely be terminated. No matter how you cut it, there ain't any justice in the mess.
i do agree with you. since my income dropped due to the economic crisis i have stopped every little luxury. i buy groceries, pay utilities, medical bills and my truck payment. i have had a boarder (that did not go well), i now work a part time job for less per hour than i made 30 years ago! but i am working because it buys gas and groceries. have i been on a night out or a vacation? N O!!!! i am also still working my full time job. this is not what i anticipated when i bought the house. and certainly not my plan for my retirement. i do not get manicures and pedicures, massages, facials, hair salon appointments - none of the little luxiries. i have not bought a stitch of clothing over $20 or anyplace other than wal-mart in over 2 years. i am doing all i can to cut expenses. and still my mortgage company will not work out a resolution. i am now in a position where i could resume my full mortgage payment. the lender will not accept that and roll the past due to the back of the loan. i am not even asking them to forgive the past due or any of the principal - just let me stop the bleeding. they have appraised the house and it is $132000 less than i owe them. What are they thinking?
I case your not aware, home ownership has become business. Since investing in homes for rentals, flipping and other sorts, home ownership is just business. Im sure these couples may have issues later in life, but what Americans have learned from work is that you look out for what is best for you. There are no more loyalties to this job or that bank. Working at a company for 30 years seems like a thing of the past.
Does it not bother you that a bank can sell your mortgage for 25 cents on the dollar to another bank, but you don't even get the option to buy the mortgage out at that price? Again its just business.
These home owners have less income than expenses. They need to make a choice what bills get paid or cut back their spending. The ones in this article feel it is the mortgage they are not going to pay. Not the direction I would take but I have no problem. They are taking a risk that it will take almost two years to lose their house and in two years they have plenty of time to prepare. However in 2 years do you know what the court will rule? In two years you could be worst off with the court decision then today. So be very careful what you decide.
I concur. Those that think the approach taken by these irresponsible freeloaders is commendable have lost sight of the effect on all of us. Foreclosures drastically devalue the homes nearby and increase the cost of borrowing for everyone - this cascade can be dramatic. While I don't condone the participation of the banks in this situation, the major factors are the lack of self responsibility and greed on the part of these borrowers.
these individuals will eventually be on the street with little hope of another bank funded real estate purchase. times are tough but most of us honor our financial commitments. incidentally - the "fat bankers" are loaning your money and we all lose when home owners default.
Yes, kirk, the banks should have been way more careful with our money. The banks failed in their fiduciary responsibility to make sure that the people they were lending our money to could reasonably be expected to repay it.
As I see it, two different issues. One being the bank's unarguable irresponsibility; the other being either a good business decision by a borrower or taking the bank for a ride, depending on your opinion.
When the banks get around to them, it will be the bank's fault that they lose their homes I suppose. And the bank's fault that their credit scores drop 150 points. Free money is addictive, they shouldn't have gone down this road.
#2 - Tue Jun 1, 2010 10:09 AM EDTAs long as they are following the law, I don't have a problem with it. No one expects banks to act morally in a financial agreement only to follow the letter of the law. Why expect any different from the borrower?
Want a change? Then put it in the contract spelling out what is expected from each side in addition to the usual financial agreement and call it a "morality clause" enforceable on both parties.
#3 - Tue Jun 1, 2010 10:11 AM EDTAre you crazy? They can't charge you a mortgage payment and not give you a house. And a borrower can't live in a house and not pay the mortgage. If you can't even follow the basic pay-for-goods idea here, our country is in worse shape than I thought.
Spell out what's expected in contract = Cuuurrrazzzy talk. /sarcasm.
Oh you're right. I'm sure it's not clearly spelled out in the contract, at the top in big black boxes, how much your payment is, what the interest rates are, and if you're in a variable rate mortgage.
It rarely is spelled out on your note. I used to work for a secondary buyer (GMAC-RFC) and I saw plenty of loans I knew were going to default. Tiffany and Brad, brand new cars, new boat, student loans, nearly new home, taking out a 2nd mortgage to redo their kitchen in their 2 yr old home. On the flipside, I'd see Grandma loans where Granny was talked into redoing the $10k balance on her home at at an adj rate of 9.98% for 15 yrs from a fixed rate of 5.68 with 20 yrs to go and she only paid $6000 in fees to get this great deal! Do you know how many pages the average loan deal has? It's quite a lot!
If everyone was jumping off a bridge, would it be a good idea to follow?
Didn't we all learn that lesson by the first grade?
For goodness sakes, people, be accountable!
And, if indeed we are a "Christian Nation", then what about that "Thou Shalt Not Steal" part of the Bible? If you aren't making your house payment, you are stealing. Period.
It's difficult to digest, because neither entity is in the right. The banks should not have been lending money to these folks, and most of these folks should have known they could not afford what they were buying. However, I put more blame on the banks. First, because they should have been more responsible with their investor's money and, second, because they are the "experts" when it comes to mortgages.
In the era in which I grew up, you worked and saved and hopefully, maybe, some day a bank would think you responsible enough to give you a mortgage loan. Suddenly, these "experts" told everyone who would listen that they had reached that level of responsibility, and they were believed. Eventually these new homeowners figured out they were given a loan they should not have received - they truly could not afford what they were told they could - and now they're dealing with it. Some more unscrupulously than others, but they're dealing with loosing their home, none the less.
When someone who has worked their butt off and been a stellar credit risk finally saves up their 20% down payment in cash and still can't get a home loan because the banks are crippled by these losers, we will all pay for this free ride.
#4 - Tue Jun 1, 2010 10:12 AM EDTAs a person who has always paid my bills, and was never late on my mortgage I consider myself very lucky. My husband and I both have jobs and still do. However, I see neighbors who have lost their jobs and scramble to eat and keep their electric on. We have tried to help with toiletries and everyday items you need. However, a few 100 bucks a week is survival mode. Trying to find jobs in this economy has been very hard. Some people abuse but alot or just trying to survive.
#5 - Tue Jun 1, 2010 10:15 AM EDTI bet you are a hardworking, honest, compassionate person. But you should go to your neighborhood Walmart, bingo parlor or indian casino and check it out. There are a lot LOT LOT of people who are making enough to do more than survive, and are throwing their money away on things they don't need, and ripping off their creditors. Banks and credit card companies aren't exactly empathy-inspiring entities, but they're actually hundreds and thousands of people with jobs and we need them to survive. It would be a lot harder for those of us who work for a living to afford the houses, cars, and other things we actually pay for without banks and credit card companies.
Thank you for helping your neighbors. We need people who do more of this.
It would be a lot harder for those of us who work for a living to afford the houses, cars, and other things we actually pay for without banks and credit card companies.
Sorry I disagree. We don't need banks or credit card companies...most esp CC companies. If you don't have the cash to buy what you want, then you simply do not buy it at all. Credit is what is destroying this country, plain and simple.
And there was a time, not all that long ago, when people didn't take out a mortgage loan to buy a home. They paid cash - that is what people should strive toward. You want a home - pay cash and don't pay a dime in interest to these criminal banks. Why would you ever want to pay 2 - 3 times more than a house is worth due to compound interest?
Why should an individual be held to some level of morals, when a bank has no such qualms - after all, it's just business ain't it? Well, the same thing with a house: it's just business, baby. People need to learn to do what's best for them. If they can accept the consequences, then what's the problem?
this is for KyEngineer... I agree,CASH IS KING.Idont pay for anything on time,if I dont have the money in hand,then we dont buy.Simple as that.The problem,my friend is the consequences are not theirs alone.Everybody shares in the form of tighter lending practices,lower property values,to name a few.I dont have a problem if these BONEHEADS go to vegas and blow there whole retirement on RED,but when their decisions affect me and mine I've got a problem with that
Banks are not alone in creating this crisis. Greed and selfishness by purchasers played a huge part. Parasitic is a bit strong, but not accepting consequences of choices we make is selfishness in spades; actually I feel embarrassed for their abject denial of a situation they helped create. You're correct jstevens, it's the good folks that get stuck with the bill.
#6 - Tue Jun 1, 2010 10:18 AM EDTI live in Michigan with lots of foreclosures on almost every street. The home prices have fallen by 40% and the lenders need to understand that half a loaf is better than none. Some lenders are willing to work something out, but most won't. They seem to think they are in the drivers seat and will not try to reform the loan rather than let it go to foreclosure. If someone demonstrates that he can pay a reduced amount the banks should consider working a mutual win-win deal.
#7 - Tue Jun 1, 2010 10:18 AM EDTand therein lies the trouble...MOST banks will NOT renegotiate a mortgage..no they'd rather the place fall into foreclosure..so what's a home buyer to do except live there to save some money to find a new place to live..also the houses which have fallen into foreclosures and are now being sold as "Short Sales" are taking forever for acceptance on submitted contracts so the banks are shooting themselves in the foot in so many ways because they know they will be bailed out again if need be..who are they kidding with all this crying....freaking BOO HOO HOO!
We have lots of foreclosures in our community, too, and once they fall into bank hands, they don't even bother to mow the grass. Our county is having to foot the bill to mow these niucance lots, after getting no where with the banks. Not to mention the roaches, rodents, and snakes nesting there that the neighbors deal with. They cut lifeguards from the local beaches last year due to budget constraints, but we're paying salary and overhead so corporations don't have to maintain their property.
A poster above made a great point - that the banks are happy to sell the loans at .25 cents on the dollar, but they wouldn't think of offering that kind of deal to homeowners.
if these people can go to out back and a ride on their air boat. what the hell0, they should be beaten with a whip. but that s my opinion. maybe it the ones that put the yes we can in. what the!!!!!!!!!!!!!!!!!!!!!!!1
#8 - Tue Jun 1, 2010 10:20 AM EDTBlessing?? It not come from God. It come from Satan.
Read Psalm 37:21
The wicked borrow and do not repay, but the righteous give generously;
You need take responsible what you are owe. Take "Crown Financial Ministries" workshop and fix your attitude.
#9 - Tue Jun 1, 2010 10:22 AM EDTAmen!! You are so correct. And honestly, I took the Crown Financial Ministries class and have worked diligently on getting and staying out of debt. Yes, you have to cut back in certain areas in order to do it, BUT once you see where you are financially bleeding, it's not so hard to keep yourself within a budget. (And of course I know that there are some extenuating circumstances, but many are not in that boat.)
Also, try Dave Ramsey's Financial Peace University, same principles, just in a different format...No debt is worth the headache
.
Christopher wrote:
Read Psalm 37:21
The wicked borrow and do not repay, but the righteous give generously
If you use this quote from the Bible to label the borrowers wicked, then you're also using the quote to label the banks righteous. I know for sure that righteous is a quality I would not consider applying to the banks, in spite of the generosity they showed with other people's money.
his quote "It was a stupid move by their lender, according to Mr. Pemberton. “They went outside their own guidelines on debt to income,” he said. “And when they did, they put themselves in jeopardy.”
He is blaming the lender for his fiscal irresponsibility?? What a joke!! People like him try to insult the intelligence of people like me who ARE fiscal responsible and live within our means. And lawyers like Stopa help them avoid their responsibility!! Hope he sleeps well at night. 350 x 1500 = 525,000. He laughs all the way to the bank he's screwing!!
#10 - Tue Jun 1, 2010 10:22 AM EDTI totally agree with you...he is mailing out a ton of flyers a month....$1500 per client to let them live free for possibly YEARS!!! Good grief! I may be out of a job because of people like this. :(
I'd like to know of one single case, just one, where a lending institution held a gun to someone's head and made them sign a loan.
Just one.
Thanks!
While the source or intention of the flyer is questionable, he's absolutely correct: The banks did not live up to their fiscal responsibility to invest their shareholder's and customer's money wisely. They gave our money out to people who could not reasonably be expected to pay it back. The lendees are not the only ones at fault here - the banks had years of experience in figuring out who were good candidates to receive mortgage loans and decided to go for the quick buck instead - with OUR money!
It's double edge sword. One side you have a banks who simply wanted to make more money, which is what a bank is suppose to do, but they made big mistakes in offering certain mortgages to people who really never should have gotten them because they were high risk. On the other side, you have the citizens who wanted to improve their socio-economic standing and live the good life.
Doing this in the short term is a great way to get back on your feet. However, what happens when you do, the bank might still evict you for not paying months after you started repaying. It's not the house it wants, its wants its money back. Also, what then happens when you go to another bank for a loan, I don't know how much of a hit your credit score would take.
#11 - Tue Jun 1, 2010 10:23 AM EDTMy understanding is that a foreclosure stays on your record for either seven or ten years. They won't be able to get another mortgage for that amount of time, unless their income increases dramatically.
If you don't have cash, you can't have the big subruban home Granted, much of this crisis came about because of government interference in the way people qualify for homes and the blatant intimidation tactics of thug orginazations like ACORN, but that doesn't excuse people choosing not to pay what they owe. Isn't it about time those of us who do pay on time and fully stop being burdened by those who deem themselves entitled to what they never work for?
#12 - Tue Jun 1, 2010 10:24 AM EDTI can't agree with your statement "because of government interference in the way people qualify for homes". I worked for 15 years as an FHA/HUD Appraiser and almost all of the people could work & get a responsible home. But the real problem was simply that President Reagan fired the FHA Appraisers and the mortgage companies would make a loan for a house that Realty agents, mortgage brokers, & MAI Appraisers say it was worth. And they say don't worry about getting a mortgage loan for 100% because it will always go up the next year or two. There were, & still are, no checks & balances.
It was really because of President Reagan & his attitude. He simply hated Federal employees, especially the FHA/HUD employees. I know that all Republicans think Reagan was & is a God. He wasn't, but to so many they still think any thing he did was right! (I'm not a Democrat or Republican, I'm independent.)
UM sorry Lucy but financial organizations like Morgan Stanley and Bear Sterns, etc were NOT in the mortgage business so you'll have to find another scapegoat for their failures.
his quote "It was a stupid move by their lender, according to Mr. Pemberton. “They went outside their own guidelines on debt to income,” he said. “And when they did, they put themselves in jeopardy.”
He is blaming the lender for his fiscal irresponsibility?? What a joke!! People like him try to insult the intelligence of people like me who ARE fiscal responsible and live within our means. And lawyers like Stopa help them avoid their responsibility!! Hope he sleeps well at night. 350 x 1500 = 525,000. He laughs all the way to the bank he's screwing!!
#13 - Tue Jun 1, 2010 10:26 AM EDTI think that the banks should reajust the loan to what the house is worth. If your house is underwater in the first loan. My neighbors bought their house at the top os the market for 640 k, now it's worth 350 k. All they wanted was to workout at least a an ajustment of some sort, they pay 5k a month. The bank said no way, too bad. If they leave, the bank will end up selling for 350 k anyway, why not work it out, they are still paying their mortgage and are already living there. They bought the house thinking that maybr 10 yrs down the road they could sell and make a profit. THESE PEOPLE WILL PAY 10 YRS AND STILL OWE MORE THAN IT'S WORTH.
#14 - Tue Jun 1, 2010 10:28 AM EDTWhen you approach buying a house like buying a stock, you should expect that sometimes that "stock" will not return a profit.
The reason we should all be outraged is that that govmnt will make sure that we all pay for this couples mortgage while they are at the Casino or out on a boat ride. If the govmnt would stop protecting them and let the process run its course, these people would be forced to be accountable....eventually.
I agree; the only caveat being, what about me??
Homecomings Financial charged me off (whatever that means), which I found out when I stopped off to pay my car insurance - was on that side of town; might as well get it out of the way - and the woman said "Are you aware that your house is uninsured?" I picked up my teeth and went home to an afternoon of unparalleled frustration. First, I called Homecomings, punched "1" for English and listened to the continual loop of "Your call is important to us..." for 45 minutes. I finally get some smart-azz 12 year old who couldn't answer one simple question: Since I'm paying principal, interest and escrow, WHY was the property tax not paid?? This is when I get the convoluted foldorol about being charged off. So...at what point did you plan to tell me, I asked. At which point, the little girl hung up!! Since I work telephone customer service, I know the worst thing you can do is b!tch out the person answering the phone, so I was not screaming (out loud anyway); I simply asked when I would/should have been notified. Called back, went through the same nonesense about pressing "1" and the endless hold messsage. Finally got through to a male who might have been all of about 17 and I asked again, when I would have been notified about all of this. THIS "Future of America" says he doesn't have access to any records or history of this account. Ok, fine, I'm done with this lunacy; I called my US Senator. The Senator's office did a 3-way call with me right then and there and - after the usual 30 minutes of wasting time punching "1" and listening to the soothing voice - I got another nasty employee. Imagine his dismay when he realized it wasn't just me on the other end (after dishing out the usual snide non-help), but the full weight of a US Senator wanting to know just what the heck was going on. All of a sudden, a phone rep could pull up the history of the entire account going back to purchase date!
I now pay these idiots $500/mo., which all goes to principal (their arrangement not mine) and pay my own tax and insurance. I'm also trying to save to pay off the past due tax by May 17, 2011 before the county takes my house. County statutes don't allow partial payments and thanks to Homecomings Financial my credit rating hovers somewhere around negative 50 million, so it has to be the whole thing and no one is going to lend me so much as a nickel.
Sorry, I kinda got off track with my rant. What I meant was, I don't blame them for just not giving a crap anymore, HOWEVER, if you are pi$$ing away the mortgage money on bull, then you're a thief, pure and simple. I made a bad bargain - even though my paper was sold to Homecomings, a division of al-Qaida without my knowledge or consent - but I borrowed $75,000.00 and I'll pay it back. But, you greedy-azz clowns will not get one more penny of interest from me! Interest is the fee you charge for doing your job and since you didn't, well...too bad, so sad!
If these homeowners were mature enough to commit to undertake the obligation of the mortgage, they should be mature enough to carry out their obligation. The presence or absence of morality or sanity in the financial institutions behind the mortgage does not change the obligation the mortgagees made to repay their loan. Their "free rent" is being paid for by the future debt left to every taxpayer from governmental bail-outs and by the drop in home value felt by every homeowner who is making their mortgage payments.
#15 - Tue Jun 1, 2010 10:33 AM EDTLet's see. Blame the banks because they "let" you borrow more money than you deserved. Blame the banks because on some level you KNEW you shouldn't pull out every penny of equity in your home, but because THEY let you do so, it's THEIR responsibility. Blame the banks because they allowed you to "fudge" a little on your loan in order to qualify. As for Florida, it's just absolutely stupid that they allow the foreclosure process to drag on for so long.
IRRESPONSIBLE just doesn't cut it. This is yet another example of the "I'm entitled" Boomer mentality that has drained this country of its wealth. Do I think the banks are complicit? Heck yeah. Do I feel sympathy for people who have lost their jobs and can't afford their mortgage? Of course. But THESE people - they want to whine about how the bank allowed them to make poor choices, and they want everyone else to pay the price for THEIR stupidity. I mean, as long as they can get that "steak dinner at Outback," it's a "blessing" that they can be total cockroaches.
The rest of us pay and pay and pay for these selfish idiots. We struggle to make the mortgage payments, we work extra hard and we GO WITHOUT that damn steak if we need to in order to fulfill the obligations we contracted into. But these people aren't struggling to just put food on the table, like other people I know who are making the decision between food and mortgage, or medicine and mortgage. These people are struggling with decisions about whether to cruise around on their boat or eat out at nice restaurants.
These are the same people who don't want anyone else to have benefits like health insurance because it might take away money for THEIR benefits. Remember - in many cases, you're not just screwing the bank by not paying your mortgage. You're screwing with every service that is funded through your property taxes, which you are conveniently NOT PAYING.
My generation, X, is sick of bailing out our Boomer neighbors who are "too good to pay their mortgage." There are several on my street alone who spent their house equity on expensive vacations, face creams and designer purses and cars, and now cry poor and want the big bad banks to pay for their crime of letting them do it.
Then again, with so many people gloating about how they don't have to pay their mortgage... why SHOULD the rest of us struggle to figure out a way and make sacrifices?
Once you blow through the free money, it sure is hard to live like you did before, isn't it? Let's all just stop paying our mortgages and just PARTY like y'all did at the peak of the boom!
#16 - Tue Jun 1, 2010 10:35 AM EDTWhy not ? Corporations do it all the time. As example: When corporations don't want to pay the pensions they promised their employees for 40 years, they just walk away from it and leave the government to pay for it. Corporations pollute the environment and walk away from it leaving the government to pay for it. We're just following the corporations example. "As you do unto others so it shall be done unto you and in equal measure." What goes around comes around.
#17 - Tue Jun 1, 2010 10:39 AM EDTI agree with the poster who said this is stealing. The elder Mrs. Pemberton said she never benefited from refinancing except the time she out on the new roof. Well then, why did dhe refinance? Did she take out money and spend it on other bills, pay down credit cards, lower her other monthly payments? And now the bank should be willing to let her walk away from her debt?
If I lend a friend $100.00 I expect to be repaid $100.00 whether they bought ice cream cones or started a new business that brings in millions of dollars a year. Since the bank is not my friend, even though individual employees may be my friend I would expect them to want back their money and interest since they do not have an altruistic reason to lend me money.
#18 - Tue Jun 1, 2010 10:40 AM EDTIf a borrower has tried working out a modification and the bank won't work with them, than more power to borrower. The banks have approved very deceptive loans and the average person does not understand the mortgage lingo. So the banks should work with people and get some money instead of nothing at all. Most people are honest and are willing to pay something towards a mortgage but if the banks won’t work with the borrowers then why should a borrower pay.
#19 - Tue Jun 1, 2010 10:41 AM EDTI'm sure that's how you would treat someone who borrowed money from you. They can no longer afford to pay you back all they promised to pay you, so now they want to pay you half. Because they need that money to go to Outback for a night out, or to a Hard Rock casino, or to take a ride in their airboat, just as the people quoted in this story are now joyfully spending their mortgage money on. Oh wait, they don't even want to pay you half, you get zilch.
How quickly are you going to loan money to someone else now?
The banks got massive bailouts which enabled them to stay in business, continue paying obscene bonuses to their senior staff and keep ripping regular American folks off with outrageous fees etc. One of my credit cards with Citi raised my interest to 30% right before the worthless Obama law went into effect. I see this as fighting back against corruption on a massive scale the only way we can!
#20 - Tue Jun 1, 2010 10:43 AM EDTYes they got bailed out,
But the best part is they NEVER put up the money on a loan to begin with, they use fractional reserve banking to generate the loans, meaning that $300,000 house actually was only backed by about $30,000 in real money, money they get back usually within the first year or two. By then often times the actual deed has been chopped up and sold on the derivatives market making it very difficult to actually prove ownership too. This is exactly what needs to happen on a national scale, it is no less than what the banks deserve.
Not only did the banks pay fractions on the dollar, if you bought the home with less than 20% down you paid PMI insurance which the bank cashed in during the foreclosure. Seems no one really looks into what the banks recovered.
Isn't it about time for full disclosure??
GHX - Yep. I had the same experience and, to boot, my home lender called in my Home Equity Line. Unlike the banks, I am not too big to fail so I have few, if any, options other than to file BK.
What these companies, in concert with the Gov't have done to this Country and ordinary people is criminal but somehow all within the "Law". Go figure!
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They are the drain on this society! It puts their burden on everyone else's backs and does nothing to help the problem, but makes it worse