Comments on: Report shows strategic defaults increasing

By: deedee3003

deedee3003 — Thu, 08 Apr 2010 06:44:01 +0000

The only reason the banks would want your house in foreclosure is if you have a lot of equity in it and they can profit when they sell it. Otherwise they don’t want it. Like a previous poster said they have you go on a temporary modification and you pay for several months then they say “no” to the permanent modification. They are screwing the homeowners and so is the government. They should have let market correct itself 3 years ago when the bubble burst no matter how painful. This artificial prop up of the housing collapse is the cause of the prolonged financial mess. I personally didn’t want to bail out Wall street, the banks and AIG. This is just the beginning of the housing mess. The banks have so many liabilities if they were to put them in the correct column on their balance sheet they would fail like the rest of the banks that went under. So they actually like this limbo status of the foreclosures they have on their books. They take all the money and write offs the government is throwing at them and on paper they still look profitable. When they are forced to show us their cards the other shoe will drop. Also debt collection agencies are jumping on the band wagon more than before. They are illegally obtaining judgments on debts they don’t own and the courts in New Jersey is letting them. The Special Civil Part of the Law Division. There is never any proof at all and the judges are committing treason on the people. The debt collectors are putting liens on people’s houses and the poor home owners are now trying to deal with these sharks in addition to their foreclosures. The debt collectors send clerks to the courthouse to check for foreclosures and then starts sending them fake bills like they own your GE money bank credit card. It is unbelievable. I had to go to court to fight Pressler & Pressler aka New Century Financial Services,Inc aka Midland Funding aka Palisades Collections and I thought I was on Candid Camera. They couldn’t produce one iota of evidence and wanted me to provide them with all my statements, the contract etc. so they could use it against me. The judge agreed with them. New Jersey is corrupt. Oh one last thing the judge’s name is Judge Crook. ( I swear this isn’t made up).

By: itten94

itten94 — Tue, 30 Mar 2010 02:40:07 +0000

I have to totally agree with the 1st comment.

But let me tell you whats the biggest BS –

INTENTIONALLY DEFAULTING TO QUALIFY FOR HAMP ARE YOU KIDDING!!!

THE BANKS FORCE YOU TO DEFAULT OR THEY WILL NOT HELP YOU, THE MEDIA AND THE GOVERNMENT DON’T WANT TO REALIZE THE TRUTH OF WHAT THE BANKS ARE DOING.

AGAIN, LET ME BE CLEAR – THE BANKS TELL YOU THAT YOU MUST BE IN DEFAULT TO QUALIFY. AND IT GETS BETTER, FOR MOST, YOU WILL MAKE 6, 8 OR 10 TRIAL PAYMENTS AND BE DENIED A PERMANENT MOD.

IF A STORY ABOUT STRATEGIC DEFAULT IS GOING TO BE ACCURATE, LETS MAKE IT ACCURATE!!

WAKE UP AMERICA – THE BANKS DO NOT WANT TO HELP – THEY WANT YOUR HOMES, THE COLLECT THE INSURANCE ON THE SECURITIZED LOANS AND THEN PROFIT FROM YOUR FORECLOSURE!!

WALK AWAY….WALK AWAY….FAR AWAY

By: Story_Burn

Story_Burn — Fri, 26 Mar 2010 23:10:40 +0000

Banks are coming hard after these strategic foreclosures if they were current on their mortgage – judge approved liens and penalties can be nasty to contend with

By: csodak

csodak — Fri, 26 Mar 2010 18:50:15 +0000

The plan to arrest the default rate is woefully inadequate, again. The government is so far behind the eight ball its frightening. I am sure its the banks ties with our government that are causing this foot dragging. Two more massive waves of default and it will be all over.

By: CATHERINE1000

CATHERINE1000 — Fri, 26 Mar 2010 16:58:14 +0000

this is just beginning. As people watch their values slide another 30% and the taxpayer money flows to the banks, states, insurance companies and unions, it will be EVERY MAN FOR HIMSELF.

I feel so sorry for all the people the last two years THAT BELIEVED THE MEDIA AND GOVERNMENT who said this mess was over and bled out every bit of savings they had trying to save a home THAT THEY CAN’T AFFORD WITHOUT THEIR JOBS.

We are heading to 20% unemployment AND I DON’T CARE IF DEMOCRATS AND OBAMA CALL HALF OF THEM DISILLUSIONED, THEY ARE STILL UNEMPLOYED, RIGHT? HEY MEDIA THE NUMBER IS 20%, OKAY?

That means that 20% unemployment and 500 trillion in securitization have already written the story of Depression II,

LIVE FOR FREE AS LONG AS YOU CAN AND SAVE THAT MONEY TO PROTECT YOUR FAMILY’S FUTURE, THE GOVERNMENT DOESN’T CARE ABOUT YOU LIKE YOU DO. THESE NUMBERS ARE GOING TO RISE AND MAKE SUBPRIME LOOK LIKE A CHILD’S PARTYTIME.