Why not just EM your senator. talking here does nothing for the country.
________________________________
From: justifiedright <[EMAIL PROTECTED]>
To: AsburyPark@yahoogroups.com
Sent: Tuesday, October 21, 2008 5:24:46 PM
Subject: [AsburyPark] Re: The 700B bailout that wasn't
First off, I believe the selling point was that we will be bailing
out people, not just banks.
Think even further in the bank's position. Why do it all? Why not
take the homes and let the market rebound?
If you think I'm off base, remember that's not a hypo. It's real
life. The bank I spoke to today not only vetoed my guy's loan, but
everyone's. They won't involve themselve in the program.
So my point is - this was a bunch of brou-ha-ha over nothing. Right
now no one's getting bailed out, and the people are at the mercy of
the banks as usual.
--- In [EMAIL PROTECTED] ups.com, "oakdorf" <[EMAIL PROTECTED] > wrote:
>
> --- In [EMAIL PROTECTED] ups.com, "justifiedright"
> <justifiedright@ > wrote:
> >
> >> Your bank will therefore lose the other $85K.
> >
>
>
> If the bak beleives the area can support a $400k foreclosure and
> their mortgage is clean, they took a decent downpayment and it's a
> couple years in - they may be ok to veto it.
>
> It all depends on the bank, their intial appraisal, current
appraisal
> and the true status of the borrower.
>
> So what if I decide to go into default on my mortage for $400k,
pay
> an attorney say $10k for a shot at saving another 75k and staying
in
> my house.
>
> How much you charging?
>
> If you're successful, let us all know, you'll have a bunch new
> clients.
>
> Forget the news reporting it, where are the lawyers advertising
their
> services "we'll bail u out - not of jail - but your mortgage -
> regardless of your credit..."
>
> Does it really make sense NOT to give the bank veto power. In a
> typical bankruptcy, the creditors have a right to object, right?
>
[Non-text portions of this message have been removed]
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