Nancy Jean Connolly hit the nail right on the head when she described in layman's terms the con that the mortgage banks have been pulling right before our very eyes.
The Grand Illusion, so to speak
Making money hand over fist,3 separate ways and once again laughing all the way to the bank, while they do it.
Well You know what they say
He who laughs last, laughs best.
It's your turn to laugh
Make sure you take it.
2 hours ago..nancy jean connolly wrote:
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the housing market will benefit from stopping the theft of house by unchecked banks. Chase has been buying homes from itself in unadvertised sales for $100 and flipping them for immediate six-figure profits, plus they used mtg insurance for the "loss" on the house from the family they tossed out. and then they sue for the 'deficiency' of fees, penalties and interest. they get the house to resell, the mortgage amount from the insurer and then they...sue.
A three-fer. Homeowners are fleeced three ways.
Delighted to see the states face down the scam. Shame on the impotent Geithner/Phyllis Caldwell team at Treasury who blandly praise their own efforts. The states see things clearly and once corrected, any defaults will be resolved.
The vultures paying half price for houses may be less smug when the prop tax bills do not support the schools, fore, police etc. they expect. Good luck with that.
