Those Indymac boys were given deal by the FDIC, and borrowers were strong-armed. Check out: fiercefreelancer.com
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This has been explained on TV over and over by one guy.
He calls these guys who are ripping us off with the help of the Obama admin;
“CRIME INCORPORATED”.
He is on every afternoon on Fox…named Glen Beck or something like that……
This has been explained on TV over and over by one guy.
He calls these guys who are ripping us off with the help of the Obama admin;
“CRIME INCORPORATED”.
He is on every afternoon on Fox…named Glen Beck or something like that……
This is really scarry
Dear President Obama,
Personally, I don’t believe in Superman or Batman or Spiderman , but those guys capture our hearts because we dream someone would stick up for Us like that. If you really want “Change” – then take on this issue for Us.
Please, be that guy. Be the guy who makes government selfishness a shameful act. We need fairness and someone to deliver honest intentions. We don’t necessarily need Change – but just need Heroes.
Sincerely,
Dan Morris
Just wondering how you resond to the FDIC’s response to your video?
FDIC is broke. This is the org that guarantees your money in the bank – and they are broke. They forced banks to prepay the next 3 years dues just to keep things floating for now. What happens next year and the year after, when no premiums are coming in. And Obama keeps closing down the banks. Just last week they closed 8 banks and lost another 500Million dollars. In one week. The end is coming folks, be ready.
Technically you are correct that FDIC is supported by member banks. However if you recall at the height of the financial crash right when AIG was going under that FDIC threw in the towel and said they were broke. Obama logic and unlimited funds bailed them out so now FDIC is like Chrysler and just another Obama feather.
@ThePremier509 Technically you are correct that FDIC is supported by member banks. However if you recall at the height of the financial crash right when AIG was going under that FDIC threw in the towel and said they were broke. Obama logic and unlimited funds bailed them out so now FDIC is like Chrysler and just another Obama feather.
You’ve made one critical mistake. You mention that the money that comes from the FDIC to make up for “short sale losses” is taxpayer supported. This is not true. The FDIC’s loss-share program is funded entirely from the proceeds of its sales in receivership and, if that’s not sufficient, then from the Deposit Insurance Fund which is funded by member-bank contributions — NOT TAXPAYER DOLLARS.
@mortyok3 The Emergency Economic Stabilization Act was put into place because of Bill Clinton’s Community Reinvestment Act Which destroyed the housing market as we knew it. Get your facts straight, or don’t post. You just make yourself look like an idiot.
@kokis813 It depends on what state you live in, how much your taxes are, what your interest rate is, and so on and so forth. Not every loan is “black and white” as you like to call it. So your statement is absurd at best!
Very good video. I actually posted this youtube on my blog at piggybankblog com which was created for all those who were abused by Bank of Abusing America’s potentially irregular, fraudulent and simply abusive loan modification process.
I am John Wright and I AM FIGHTING BACK!
John Wright
piggybankblog com
they made so many bad deals in Chicago, The IndyMac name kept coming up on foreclosures in Chicago.. It never ends.
This is under Barack Obama, not Bush.
I feel like the American dream has become a nightmare.
yup, blood is boiling
@kokis813
You appear to be a plant / shill for the banking industry / FDIC. You have not credibility after making a blanket statement like the one you posted.
Kinda scary, they could sell the house used in the example for $1 and still make $47800. Works out great for the home buyer and the bank, not so much for us taxpayers.
@mortyok3 The Emergency Economic Stabilization Act of 2008 was to try and rescue Fannie and Freddy after Clinton mandated that they had to give loans to minorities that had neither the resources or the will to pay back their loans.
@DammitDrag BUSH BAILED THE BANKS OUT. GET YOUR INFORMATION RIGHT. YES, I AM YELLING.
the loan was for 478000 and there were 6 MONTHS of missed payments, which came to a total of 485200. SO:
485200-478000=7200/6months=1200 per month missed.
This doesn’t seem realistic at all. I had a mortgage of 220000 and was paying around 2000 per month, which would total 2000*6=12000 in 6 months.
Also, before taking all of this biased crap as the truth, everyone should do his/her own research first. yes, there might be some truth in this, but nothing is this black and white.
@Danster82
you said it Dan ..its all money created from nothing
classic parasitism…..how do i get in on it?
Is anybody suprised? Really?
sounds like the reason we can’t get short sales approved. We get a good offer from a buyer on a short sale, wait 4 months,only to have the Bank reject it, or counter at a ridiculous price, and then we lose the buyer. We need to move these properties and these banks are once again being greedy!