Implode-Explode Forums

RE: SLV

Author: dreamer
Posted: Thu May 24, 2012 2:48 pm (GMT 0)
Topic Replies: 8

There is a time and place.

FYI I went in with both feet yesterday into NUGT at 9.04...looking good so far.
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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...

RE: Light Sweet Crude ...

Author: bdc63
Posted: Wed May 23, 2012 5:42 pm (GMT 0)
Topic Replies: 23

we've got an 8 handle again for the first time in a-loooong-while

i figure 10 more bucks or so and the FED will be back in QE-greenlight-territory
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"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912

RE: Discussion on Well, Would You Look At That… Homeowners Sc

Author: Bruce Broyles
Posted: Tue May 22, 2012 2:33 pm (GMT 0)
Topic Replies: 11

Every time I am in front of a Magistrate. one of the rote messages provided to the Homeowner is that there is nothing evil or wrong about the Bank enforcing its contractual rights. In Law School. the "contracts" professor stated that contracts are simply so the people know their rights when deciding whether to breach the contract. If every contract is fulfilled their would be no reason to have it written down.

Homeowners are not doing anything that is ethically, morally or legally wrong. Homeowners are simply weighing the benefits of the contract versus the harm that could occur if the breach the contract.

Fannie Mae can make new rules for the extension of credit. But haven't we already seen that Fannie Mae is really there for the protection of the Banks, and the Banks have taken advantage of Governmental guarantees. If banks will only loan to those who are able to obtain a Fannie Mae guaranteed loan, and the number of those Homeowners decreases significantly, then the banks will eventually pressure Fannie Mae into changing the criteria.
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Ohio Attorney helping homeowners facing foreclosure

RE: Discussion on Well, Would You Look At That… Homeowners Sc

Author: EGalindo
Posted: Tue May 22, 2012 5:41 am (GMT 0)
Topic Replies: 11

Loved your post, Martin, I laughed 'til I cried. I like your answer to Chris, also. Although I do understand his thinking...it's old school...like it should be. We should honor our commitments and do the "right thing." Problem is, the banks have ceased doing the right thing.

In our case, our contract was not honored and they have the financial clout to tie us up in court for years. They promised us a modification, because our government forced them to. Then they proceeded to lure us into default by giving us a "temporary modification" that they then turned into a default...(we all know how that story goes).

In the old world we would have taken on another job or two to meet our obligation, but then, the bankers would have worked with us...in the old world. Let's face it, all it takes for evil to prevail is for good men to do nothing....
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Life is but a dream

RE: Discussion on Well, Would You Look At That… Homeowners Sc

Author: Steevo
Subject: Fannie Mae is the problem.
Posted: Tue May 22, 2012 12:44 am (GMT 0)
Topic Replies: 11

Oh for god's sake.

The problem is *Fannie Mae*!

With them involved there has been a fundamental change in the way the banking and financial system works.

It used to be grandpa would put his money in the bank. When you went to get a loan to buy a home or whatnot the bank would loan you grandpa's money.

The bank had to loan out grandpa's money because if they didn't they wouldn't make anything. They made money on the margin and the float, it's how banks worked.

It was no accident the owner of the local bank was usually the wealthiest man in town!

This was all highly profitable and there was little risk to the bank because you had to pay a down payment and hopefully your house was always worth more than the loan.

The banker was careful to loan to credit worthy people since he would have to pay the money back to grandpa if he screwed up. But this almost never happened.

Nowadays, the bank doesn't loan you depositors money at all.

Loans have to be made to meet Fannie Mae standards, a Fannie Mae appraisal, etc. They sell them all off packaged to Fannie Mae, and they get their money back right away. They presumably keep a fee for making and packaging the loan but this is all kept in the shadows. You are not supposed to know about it.

So banks aren't really banks anymore. They don't loan you their money or even their depositors money. They don't make money off the float and margin, they make it from fees. The banks are essentially money changers, not banks. They take money from here and put it over there. Over time they put it back but if something happens they have no real liability at all.

Witness the guy from Fannie Mae wants to blackball people who don't pay back their loans. Fannie Mae must have to stand up for that money at some level. You don't see the bank saying that, do you? They don't really care. They already got paid and passed the liability off to Fannie Mae.

No wonder there was all those reckless loans being made. Remember all the ads on the radio? "We'll loan you 125% of your home's value". The banker couldn't do that, it was too risky with his money or grandpa's that he was responsible for.

But with other people's money? Why not!

So the mortgage salesman works on commission, the mortgage company gets commission, The managers and the owners are all on bonus programs. everyone gets theirs up front.

No wonder they wanted to loan more than the property was worth, they had no liability at all, they got paid up front for making the loan even if there was a first payment default.

If the banks were forced back into the banking business there would be an immediate straightening out of the whole economy. You wouldn't be able to get a loan unless they were pretty sure it was either covered or you would be able to pay it back. Loans would be based on real money that someone is responsible for.

Somehow that makes sense to me.

What do you think?

It's official...Running this year

Author: FIXMYLOAN
Subject: It's official...Running this year
Posted: Sun May 20, 2012 8:11 pm (GMT 0)
Topic Replies: 0

NJ petitions beginning Monday
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2016

"If they'll lie FOR you, they'll lie TO you"

RE: Discussion on Deputy Gets Fired For Lying About Income On M

Author: punstress
Posted: Sun May 20, 2012 7:43 pm (GMT 0)
Topic Replies: 1

The bank doesn't pursue most of these because they can't justify expending legal resources on cases where they don't expect to collect. Not only does the guy probably not have $500,000 sitting around, he no longer has a paycheck to garnish.

RE: Discussion on What's wrong with your loan? Jay Patterson o

Author: Amicusman
Subject: Are Securitization Audits A Worthless Service?
Posted: Sun May 20, 2012 2:15 pm (GMT 0)
Topic Replies: 1

Knowlegeable attorneys think so.

http://www.veteranstoday.com/2.....on-audits/

Biographer of Blythe Masters

Author: bdc63
Subject: Biographer of Blythe Masters
Posted: Sun May 20, 2012 12:36 pm (GMT 0)
Topic Replies: 0

book is not available in english yet, but here's an interview with the French author:

http://consumingthepoor.com/20.....n-english/
_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912

RE: Discussion on Husband's Suicide Yesterday, Wells Fargo Evic

Author: mtgbiz
Subject: Mandelman -------
Posted: Fri May 18, 2012 5:16 pm (GMT 0)
Topic Replies: 6

I see, your right case was too late. I think one thing is that the attorneys they had made their retainer money and let the case go. I have done several cases for attorneys in such when a client does not stand a chance from the get go and clearly the attorneys were not qualified to handle them. The pro bono was too late and it is now horrible to see this story predatory lending is disgusting and the banks get away with it because they have loads of money the average consumer does not. The bank lied and went unpunished and obama says in return I support Gay marriage to get votes instead of fixing the economy!!!!

[b]Lesson don't ever believe the bank and call whoever you can to get answers. The Husband is a fallen solider in this war, and we say our prayers for His wife@@@@
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Mortgage Advisor

RE: Discussion on Husband's Suicide Yesterday, Wells Fargo Evic

Author: mandelman
Posted: Fri May 18, 2012 12:26 pm (GMT 0)
Topic Replies: 6

Thanks, H.S. A horror story is right.

And, mtgbiz... No, current lawyer got case way too late, she's pro bono by the way, and she'd already filed suit anyway. Couple went through two other lawyers before her. But regardless... laws governing predatory lending all favor predatory lenders... short statutes of limitation and the like.

RE: Discussion on Husband's Suicide Yesterday, Wells Fargo Evic

Author: mtgbiz
Subject: This is crazy. I can't believe this.
Posted: Fri May 18, 2012 4:21 am (GMT 0)
Topic Replies: 6

Wow, there Attorney sucks. First of all they could have stopped all this by really going after the facts not just on the late payments they didn't make, but also what else is wrong with the loan. They needed a stronger argument. I can't believe they believe the bank. It's so sad to see this. This attorney took their money and filed month to month paperwork on discovery of what happen then gave them mild representation. Pro Bono I understand, but level with them half way through not at the end. It is what it is , disgusting. Wells fargo shame on you. Warren Buffett dump this stock.
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Mortgage Advisor

RE: Discussion on The Better Business Bureau, the State Bar, Lo

Author: mtgbiz
Subject: BBB is a scam.
Posted: Fri May 18, 2012 3:58 am (GMT 0)
Topic Replies: 4

bbb, doesn't help you unless you are returning a car!! I have had the BBB use their sale line. "Someone is inquiring about your business and if you join the BBB we will do all this ladlalaldldlddaldladlladad. Ya right . The BBB is over rated and everyone believes this co. as a great co. that will help everyone!! I see everyone complaining about scams, but because people can't get help. banks make it impossible to get a mod. It's unfortunate that the small companies that are doing loan mods and getting them done without over promising but saying it like it is, those are the real heros of this mess. People looking for foreclosure stopping and litigation for respa and tila actions, securites, and silent titles is so common, it is amazing when one gets done. It's amazing the gov't hasnt just said we can do a mod, because they can afford their mortgage modded and not fall back into the mess. Deferment seems to be working, but the time 6 months on avg. is amazing to the avg. homeowner. NO HELP will make this problem stay here for a long time.
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Mortgage Advisor

RE: Discussion on The Better Business Bureau, the State Bar, Lo

Author: PaulMolinaroEsq
Subject: Clarification
Posted: Thu May 17, 2012 9:09 pm (GMT 0)
Topic Replies: 4

Oh, for crying out loud, cutting off the comments before they get posted, yes... Fransen and Molinaro did do loan modifications... absolutely, we did. Do we accept any new "loan mod"clients? No. However, we do work with lenders on clients' mortgages during a bankruptcy matter and during civil litigation matters... but if you contact us asking for a "loan mod," we recommend calling your local county bar association or the state bar for a referral.
- Paul
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- Paul J. Molinaro, Esq.
Fransen & Molinaro, LLP
980 Montecito Drive, Suite 206
Corona, CA 92879
1-888-7-LOAN-LAW

RE: Discussion on The Better Business Bureau, the State Bar, Lo

Author: PaulMolinaroEsq
Subject: And no...
Posted: Thu May 17, 2012 9:04 pm (GMT 0)
Topic Replies: 4

Oh, and my firm does NOT do loan modifications... not for money... not for free... not at all!
- Paul
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- Paul J. Molinaro, Esq.
Fransen & Molinaro, LLP
980 Montecito Drive, Suite 206
Corona, CA 92879
1-888-7-LOAN-LAW