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  1. #1
    Join Date
    Dec 2005
    Location
    California/Nevada
    Posts
    3,631

    Mortgage companies steal homes with help of the government

    ...so.. my dad is friends with a family who are chronically on welfare programs.
    thanks to the free gifts from the government they had a mortgage where they only had to pay $500 per month for a home that was usually 2 or 3 times more than that.

    one day they get a notice that the house is being foreclosed on and they have to get out.
    first question, of course , "did you make the payments?"
    "yes"

    tell you the truth , i didn't even believe these people until several months later when i found out they were being represented by an attorney, in a class action.

    ads on TV sprang up saying "if you were kicked out of your home, call"
    then i found out the Feds were getting involved.
    EVERYONE WATCH OUT!!! THE FEDS WILL GET TO THE BOTTOM OF THIS!!!

    i saw one brief news story, two days ago, that had more details.
    "Mortgage papers were forged" to throw people out of their homes.
    the news said , the class action lawsuit, with the feds involved, came out to a settlement where the average victim was going to receive less that $3000 dollars, they said one army vet was going to get $120,000

    the news had an interview with one guy who said his check was for $300

    these mortgage companies and banks flat out stole people's homes from them.
    where's the news reports?
    where's the ACLU?
    where's the pilgrimages to Congress showing kids kicked out of their homes?

    a few hundred dollars from a class-action scam is compensation for monthly payments?

  2. #2
    Join Date
    Dec 2005
    Posts
    3,957
    There is plenty of blame to go around. Between the government, the banks, and the people who bought houses that they couldn't even dream of affording. Most who got foreclosed on should of been foreclosed on sooner.

  3. #3
    Join Date
    Mar 2004
    Location
    SE Michigan
    Posts
    17,916
    Most who got foreclosed on should of been foreclosed on sooner.
    I disagree....most who got foreclosed on should not have been given the loan in the first place. Then there would be nothing to foreclose on.

  4. #4
    Join Date
    Dec 2005
    Posts
    3,957
    Quote Originally Posted by coolwhip View Post
    I disagree....most who got foreclosed on should not have been given the loan in the first place. Then there would be nothing to foreclose on.
    I agree. But adults also need to be accountable for what they do, sign, and agree to. As I said plenty of blame to go around.

  5. #5
    Join Date
    Mar 2008
    Location
    Long Beach, CA
    Posts
    3,381
    Quote Originally Posted by newoldtech View Post
    I agree. But adults also need to be accountable for what they do, sign, and agree to. As I said plenty of blame to go around.
    But the banks that have the money and experience knew the people could simply walk away from the loan payments and give the home back to them. This makes them far more responsible.

  6. #6
    Join Date
    Jun 2002
    Location
    Dacula, GA
    Posts
    12,586
    Quote Originally Posted by Brian GC View Post
    But the banks that have the money and experience knew the people could simply walk away from the loan payments and give the home back to them. This makes them far more responsible.
    Funny Brian how you refuse to acknowledge the Feds row in this forcing the banks to make the loans. This has been discussed ad-nauseum on this form over the past few years in every detail. Gees don't care to go through it all again for anyone who didn't care to look it up. Thank you, thank you very much
    "I could have ended the war in a month. I could have made North Vietnam look like a mud puddle."
    "I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them. It is not to inaugurate new programs, but to cancel old ones that do violence to the Constitution."
    Barry Goldwater

  7. #7
    Join Date
    Mar 2008
    Location
    Long Beach, CA
    Posts
    3,381
    Quote Originally Posted by glennac View Post
    Funny Brian how you refuse to acknowledge the Feds row in this forcing the banks to make the loans. This has been discussed ad-nauseum on this form over the past few years in every detail. Gees don't care to go through it all again for anyone who didn't care to look it up. Thank you, thank you very much
    I don't buy it. The banks control the "Fed", not the other way around. Besides, they walked away the winners and we walk away the losers. Telling me they didn't know it would unfold that way?

    Getting to the truth takes more than just "looking it up".

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