Interesting video short sales, FDIC, etc.

[sigma]

Here is a link to agreement between FDIC and One west Bank.

http://www.fdic.gov/about/freedom/In...dLossAgrmt.pdf

If you understand the legal language, you can decide if the You Tube flick has any merit.
I am lost in this legal mombo jumbo and will not voice any opinion.
DeltaT I was curious about your signature and found this:

http://www.truthorfiction.com/rumors/c/cicero-plan.htm

I like the message of your sig but looks like it is not what Cicero said.

[DeltaT]

I'm pretty sure he said it. I was standing right next to him when he did.

[Joe Harper]

What is it that banks are supposed to do in a Capitalist society other than make money?

Run soup kitchens ??

[acmanko]

http://www.youtube.com/user/fiercefreeleancer

If there was no buyer, then the taxpayer loss is the origal cost. 485,000

With a buyer the taxpayer loss is 195,000, the bank makes money, the buyer has the possiblity to make 244,000 if the home appreciates back to its original value. This could happen either real fast or take years, maybe decades. Doubling your money in a decade is almost impossible in todays stock markets or with CD's.


I don't see no problem, unless there is no buyer.

[jmac00]

Homes as a investment is dead, it will never come back.

Homes will become more like a car or refrigerator. People will be buying home to live in and not necessarily as an investment.

I suspect people will live in there homes much longer now. They won't be moving every 7 years just to make a profit and move up to a "bigger and better" home.

I think home building (Residential New Construction) will become flat. I doubt it will increase substantially

This is STRICTLY MY OPINION and have no factual basis. It's just my guy feeling.

[acmanko]

Homes as a investment is dead, it will never come back.

Homes will become more like a car or refrigerator. People will be buying home to live in and not necessarily as an investment.

I suspect people will live in there homes much longer now. They won't be moving every 7 years just to make a profit and move up to a "bigger and better" home.

I think home building (Residential New Construction) will become flat. I doubt it will increase substantially

This is STRICTLY MY OPINION and have no factual basis. It's just my guy feeling.

what's wrong with that. Heck I've already been in mine for 9 years and its worth more than I paid for it, but I don't plan on taking a cashout refinance just to keep up with the Jones. Its the Jones trying to keep up with me.

[jmac00]

what's wrong with that. Heck I've already been in mine for 9 years and its worth more than I paid for it, but I don't plan on taking a cashout refinance just to keep up with the Jones. Its the Jones trying to keep up with me.

I didn't say there was anything wrong with that. I have been in my home for 19 years, and it ain't worth more than 10% of what I paid for it. I live in a crappy neighborhood, it use to be a nice place but security is becoming a concern

I really hope the market rebounds, but I don't think thats going to happen.

[acmanko]

I didn't say there was anything wrong with that. I have been in my home for 19 years, and it ain't worth more than 10% of what I paid for it. I live in a crappy neighborhood, it use to be a nice place but security is becoming a concern

I really hope the market rebounds, but I don't think thats going to happen.

well, that's a chance we take when we become property owners.

I sold a home 15 years ago that is stagnant as far as appreciation is concerned, bought a home on acreage, doubled my money when I sold it and then bought the home I'm in now.

[daytonafan]

I guess its not a problem unless you are a plumber, electrician, drywaller, painter, carpenter, concrete contractor, roofer, framer, excavator, HVAC installer, etc.. who depends on the construction industry for food money.