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RE: Conceived in Fraud - Helped by the FDIC - 2/13/2010 12:35:24 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
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quote:

ORIGINAL: Real0ne

quote:

ORIGINAL: thornhappy

The reason foreclosures are not leveling off is due to unemployment.


another reason is due to inflation and the cost of living whereas the wage did not keep up with the inflation.
This is the one of the few things you have ever written, I actually agree with.
Wages and benefits are growing slower than inflation.

Wage and Benefits Grow Slower Than Inflation - Real Time Economics - WSJ

Especially for those who bought homes squeezed it a bit tight on the funds and at a distance from work and now pay double every day for gas and other costs of living.

Few factor in the devaluation of the dollar and those who do rarely expect 50% in 10 years.




< Message edited by MzMia -- 2/13/2010 12:40:38 PM >

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(in reply to Real0ne)
Profile   Post #: 21
RE: Conceived in Fraud - Helped by the FDIC - 2/13/2010 11:15:53 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		So in essence you are not in default on a loan, but in breach of a contract. I don't see the advantage here. You must be pretty new to this. So much has been tried before. You have the one chance, get them to come up with the dude who loaned you the paper, the fiat, the specie, or the FRNs whatever you want to call them. The contract does not specify that the debt is to be paid back for real, it specifies a certain number of FRNs which must be remitted every month.

Stick to the ink argument, it is the best chance. Also, if it is outlined in the original agreement that the creditor can sell the debt at will AND you agree (note the word agree) to fulfill your end of the contract in that event, you are screwed. Some contracts do not have that provision, but I bet they do now.

And realize this. You might see it as usury but you are not God. You agreed. Upon the acceptance by both parties you intend to use a trick of the law to get ahead. If you do not pay back the money, one could call you a thief. I have no proiblem with screwing them, but the fact of the matter it that it is what this boils down to, admit it. Someone somewhere, if you bought a house on credit, they gave the old owner the money. If you do not pay it back he still has that money and the lender cannot get it back.

So in my view what you are talking about is really theft. The only reason I will aid, abet and condone it is because of what the banks have done to this country. In fact I have my own little plan hatching this year. If they hadn't done what they did I would never condone anything like this. Your word is your bond. A handshake is a done deal. I want nothing to do with anyone who does not embrace this concept. But the banks have hurt us, very very badly, and all for their own enrichment, so as far as I am concerned it's no holds barred.

T

(in reply to Real0ne)
Profile   Post #: 22
RE: Conceived in Fraud - Helped by the FDIC - 2/15/2010 10:08:08 AM   
UncleNasty


Posts: 1108
Joined: 3/20/2004
Status: offline
quote:

ORIGINAL: CountrySong

MzMia - There is a lot going on in the credit, banking and housing industry, that the "average joe" is totally clueless about.
Interesting thing is that the Average Joe did not care enough to get educated enough to not sign those mortgages in the first place! The kowledge was all there - freely available. No one cared while everything was going great but now everyone wants to point fingers and say "poor me look what these greedy people did to me!"
Listen - If someone sends you an email that says that you can help them get millions out of a secret bank account left by some recently dead person and you send them thousands of dollars; then who is at fault them for being crooks or you for being stupid! I vote for the latter.
The truth about the mortgage scam is that millions of Americans got GREEDY! They bought properties and signed mortgages while ingoring financial common sense and not getting educated. On top of that we were in a financial boom and everyone was making money but instead of saving it they spent it. Now they are paying the price!
It's called the University Of Hard Knocks. We will survive. The nation will survive. Inflation will be used to manage the damage and life will go on! It has happened before and it will happen again based on history; because, people don't learn about money, don't stay educated about money, and don't stay responsible with money.


That opinion is particularly myopic and inaccurate, however, you are still entitled to it.

Uncle Nasty



(in reply to CountrySong)
Profile   Post #: 23
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