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Banks about to have a fire sale of real estate for the 1%

 
Anonymous Coward
User ID: 15654330
United States
06/16/2012 11:28 PM
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Banks about to have a fire sale of real estate for the 1%
“The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.”

[link to www.thenewamerican.com]

WOW, just wow...while us plain folks gets screwed once again, the rich will get richer
Anonymous Coward
User ID: 1477165
United States
06/16/2012 11:30 PM
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Re: Banks about to have a fire sale of real estate for the 1%
Yep, thats how its done, right on schedule.
Anonymous Coward
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06/16/2012 11:30 PM
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Re: Banks about to have a fire sale of real estate for the 1%
anaana
Anonymous Coward
User ID: 18068668
United States
06/16/2012 11:32 PM
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Re: Banks about to have a fire sale of real estate for the 1%
transfer of wealth again. We will all be slaves. Home ownership will be a thing of the past. I owe my soul to the company store.
Marxist

User ID: 18079392
New Zealand
06/17/2012 04:00 AM
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Re: Banks about to have a fire sale of real estate for the 1%
Wealth consolidation...a natural tendency.
Workers of the World, Unite. You have nothing to lose but your chains!
Anonymous Coward
User ID: 568542
United States
06/17/2012 04:27 AM
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Re: Banks about to have a fire sale of real estate for the 1%
Every time there's a billion dollar bailout it is a transfer of wealth. As they print money the inflation results in a hidden tax on us all.

Also, many have taken out home equity loans only to watch the value of the property evaporate. Many of them lost their homes.

HUD homes put on the market will result in slashing of HUD pmnts: rent - the next bubble to deflate.
Judethz
Israel is Eternal

User ID: 13496676
United Kingdom
06/17/2012 04:37 AM

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Re: Banks about to have a fire sale of real estate for the 1%
WOW, just wow...while us plain folks gets screwed once again, the rich will get richer
 Quoting: Anonymous Coward 15654330


chinaflagkitty Say hello to your new neighbours.
Anonymous Coward
User ID: 10363614
Canada
06/17/2012 09:30 AM
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Re: Banks about to have a fire sale of real estate for the 1%
It's done the same way in this shit country too
Anonymous Coward
User ID: 18081239
Australia
06/17/2012 09:34 AM
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Re: Banks about to have a fire sale of real estate for the 1%
WOW, just wow...while us plain folks gets screwed once again, the rich will get richer
 Quoting: Anonymous Coward 15654330


:chinaflag:kitty Say hello to your new neighbours.
 Quoting: Judethz



gotta service that debt yanktards
Anonymous Coward
User ID: 18081239
Australia
06/17/2012 09:36 AM
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Re: Banks about to have a fire sale of real estate for the 1%
i wouldnt be suprised if the bible, quran and all the world doctrines were written by the same dude who wrote the fortune cookies.
Anonymous Coward
User ID: 17865482
United States
06/17/2012 09:40 AM
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Re: Banks about to have a fire sale of real estate for the 1%
WOW, just wow...while us plain folks gets screwed once again, the rich will get richer
 Quoting: Anonymous Coward 15654330


:chinaflag:kitty Say hello to your new neighbours.
 Quoting: Judethz



gotta service that debt yanktards
 Quoting: Anonymous Coward 18081239


all your females are going to be servicing the chinese cock to get something warm in their stomachs

should be some epic gangbang footage from aussie land in the future
Anonymous Coward
User ID: 15343035
United States
06/17/2012 09:58 AM
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Re: Banks about to have a fire sale of real estate for the 1%
WOW, just wow...while us plain folks gets screwed once again, the rich will get richer
 Quoting: Anonymous Coward 15654330


:chinaflag:kitty Say hello to your new neighbours.
 Quoting: Judethz



gotta service that debt yanktards
 Quoting: Anonymous Coward 18081239


all your females are going to be servicing the chinese cock to get something warm in their stomachs

should be some epic gangbang footage from aussie land in the future
 Quoting: Anonymous Coward 17865482


sidewayssidewayssideways
Eggifer

User ID: 18089236
United States
06/17/2012 10:27 AM

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Re: Banks about to have a fire sale of real estate for the 1%
we are screwed
Abba Zabba Zoom
Eggifer

User ID: 18089236
United States
06/17/2012 10:32 AM

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Re: Banks about to have a fire sale of real estate for the 1%
Isn't this the doom everyone was hoping for? Jealousy of those who were homeowners brought this about! Now they will be fighting with the rest of us to rent out these rotten properties, while the rent goes sky high. And they won't rent to you if your credit is bad. And whose credit isnt' bad these days?
I been thinking about buying a tent.
Abba Zabba Zoom
Anonymous Coward
User ID: 21211135
United States
08/17/2012 09:06 PM
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Re: Banks about to have a fire sale of real estate for the 1%
Isn't this the doom everyone was hoping for? Jealousy of those who were homeowners brought this about! Now they will be fighting with the rest of us to rent out these rotten properties, while the rent goes sky high. And they won't rent to you if your credit is bad. And whose credit isnt' bad these days?
I been thinking about buying a tent.
 Quoting: Eggifer




Watch them try to sell tents for 300k, and fools will buy them.
jeffYYZ

User ID: 21311035
Canada
08/17/2012 10:46 PM
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Re: Banks about to have a fire sale of real estate for the 1%
fix them up and sell them right back to you all and do it agane HAhahahah
Anonymous Coward
User ID: 20022035
United States
08/17/2012 10:58 PM
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Re: Banks about to have a fire sale of real estate for the 1%
...so foreclosed homes are being sold...they are being "bulk" sold because they can't be sold in the traditional method...so some investors will buy some foreclosed homes...they will make money if they can sell homes that could not be sold in the past...interest rates below 4% and home prices up to 48% less than 1st selling price and could not be sold...seems like a very risky purchase...think not...well hell, start flipping those underwater homes...theres thousands of them...contact your local bank, realitor...they will give you a book of homes you can buy...but you didn't...and homes on the books that aren't being serviced or purchased need to be gotten rid of...real estate has not been a real money maker,it's been in all the papers...BUT if the economy rebounds, you could make a buck...place your bets...if it doesn't, who gonna buy those homes ?
mopar28m
Lev. 23:23-25

User ID: 14265444
United States
08/17/2012 11:01 PM

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Re: Banks about to have a fire sale of real estate for the 1%
I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................


.........................by paying my mortgage off.





angeldemon
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Anonymous Coward
User ID: 20022035
United States
08/17/2012 11:03 PM
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Re: Banks about to have a fire sale of real estate for the 1%
Isn't this the doom everyone was hoping for? Jealousy of those who were homeowners brought this about! Now they will be fighting with the rest of us to rent out these rotten properties, while the rent goes sky high. And they won't rent to you if your credit is bad. And whose credit isnt' bad these days?
I been thinking about buying a tent.
 Quoting: Eggifer


..the home price or the rental cannot be more than the market can bear...didn't we just learn that?...I can charge 5k a month rent but who the hell can pay it...and actually MOST peoples credit if ok...CC in arrears is 18%..that means 82% are fine....misery loves company
Anonymous Coward
User ID: 20898744
United States
08/17/2012 11:05 PM
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Re: Banks about to have a fire sale of real estate for the 1%
About too? The 1% have been robbing us 99% blind for the last century.
Anonymous Coward
User ID: 20022035
United States
08/17/2012 11:11 PM
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Re: Banks about to have a fire sale of real estate for the 1%

I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................


.........................by paying my mortgage off.




...wasn't that the contract agreement?..no one is screwed, you both met the conditions you both agreed to...the holder now has additional funds available to reinvest now instead of over many years...and good for BOTH of you...I don't understand adults who agree to a loan and then say they are/were/will be screwed...don't sign the F'n loan...owning a home is a lifestyle choice not mandated by law...you are investing that money into real estate, you could also NOT pay off the house and buy...stocks...gold....bonds...a rental property...you have weighed the options and decided what makes the best for you ...cool...but I don't see where the screwing comes in...what if he takes that early pay off and triples it somewhere else ? well gee why didn't you do that !!! see screwed again....
mopar28m
Lev. 23:23-25

User ID: 14265444
United States
08/17/2012 11:27 PM

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Re: Banks about to have a fire sale of real estate for the 1%

I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................

.........................by paying my mortgage off.

...wasn't that the contract agreement?..no one is screwed, you both met the conditions you both agreed to...the holder now has additional funds available to reinvest now instead of over many years...and good for BOTH of you...I don't understand adults who agree to a loan and then say they are/were/will be screwed...don't sign the F'n loan...owning a home is a lifestyle choice not mandated by law...you are investing that money into real estate, you could also NOT pay off the house and buy...stocks...gold....bonds...a rental property...you have weighed the options and decided what makes the best for you ...cool...but I don't see where the screwing comes in...what if he takes that early pay off and triples it somewhere else ? well gee why didn't you do that !!! see screwed again....
 Quoting: mopar28m


Lets see our interest rate on our mortgage is 10.5%. My financial advisor said we would be money ahead if we paid off our mortgage. We are saving $76,000 in interest by paying it off.

That is $550 less per month going out every month.
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Anonymous Coward
User ID: 3586871
United States
08/17/2012 11:34 PM
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Re: Banks about to have a fire sale of real estate for the 1%

I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................

.........................by paying my mortgage off.

...wasn't that the contract agreement?..no one is screwed, you both met the conditions you both agreed to...the holder now has additional funds available to reinvest now instead of over many years...and good for BOTH of you...I don't understand adults who agree to a loan and then say they are/were/will be screwed...don't sign the F'n loan...owning a home is a lifestyle choice not mandated by law...you are investing that money into real estate, you could also NOT pay off the house and buy...stocks...gold....bonds...a rental property...you have weighed the options and decided what makes the best for you ...cool...but I don't see where the screwing comes in...what if he takes that early pay off and triples it somewhere else ? well gee why didn't you do that !!! see screwed again....
 Quoting: mopar28m


Lets see our interest rate on our mortgage is 10.5%. My financial advisor said we would be money ahead if we paid off our mortgage. We are saving $76,000 in interest by paying it off.

That is $550 less per month going out every month.
 Quoting: Anonymous Coward 20022035


Make sure you get the final payoff statement and whatever docs you need to prove you paid it off. Since the financial crash I've heard the banks make up bogus extra charges and then foreclose when they aren't paid.
Anonymous Coward
User ID: 20022035
United States
08/17/2012 11:36 PM
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Re: Banks about to have a fire sale of real estate for the 1%

I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................

.........................by paying my mortgage off.

...wasn't that the contract agreement?..no one is screwed, you both met the conditions you both agreed to...the holder now has additional funds available to reinvest now instead of over many years...and good for BOTH of you...I don't understand adults who agree to a loan and then say they are/were/will be screwed...don't sign the F'n loan...owning a home is a lifestyle choice not mandated by law...you are investing that money into real estate, you could also NOT pay off the house and buy...stocks...gold....bonds...a rental property...you have weighed the options and decided what makes the best for you ...cool...but I don't see where the screwing comes in...what if he takes that early pay off and triples it somewhere else ? well gee why didn't you do that !!! see screwed again....
 Quoting: mopar28m


Lets see our interest rate on our mortgage is 10.5%. My financial advisor said we would be money ahead if we paid off our mortgage. We are saving $76,000 in interest by paying it off.

That is $550 less per month going out every month.
 Quoting: Anonymous Coward 20022035


...so you are paying off the loan contract within the terms and limits you agreed to...no one is screwed...you could also refi, cut your payment by 40% and still have the stash of cash to invest elsewhere...your not getting 10.5% return..you aren't paying 10.5%...the cash used to pay off the house is now "invested" in real estate...you now OWN your home and homes are where you live....good for you...still don't get the screwed part but if your happy and the lender got his money back...looks like a win win to me....
mopar28m
Lev. 23:23-25

User ID: 14265444
United States
08/17/2012 11:36 PM

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Re: Banks about to have a fire sale of real estate for the 1%

I'm going to be screwing out mortgage holder out of $76,000 dollars next month,......................

.........................by paying my mortgage off.

...wasn't that the contract agreement?..no one is screwed, you both met the conditions you both agreed to...the holder now has additional funds available to reinvest now instead of over many years...and good for BOTH of you...I don't understand adults who agree to a loan and then say they are/were/will be screwed...don't sign the F'n loan...owning a home is a lifestyle choice not mandated by law...you are investing that money into real estate, you could also NOT pay off the house and buy...stocks...gold....bonds...a rental property...you have weighed the options and decided what makes the best for you ...cool...but I don't see where the screwing comes in...what if he takes that early pay off and triples it somewhere else ? well gee why didn't you do that !!! see screwed again....
 Quoting: mopar28m


Lets see our interest rate on our mortgage is 10.5%. My financial advisor said we would be money ahead if we paid off our mortgage. We are saving $76,000 in interest by paying it off.

That is $550 less per month going out every month.
 Quoting: Anonymous Coward 20022035


Make sure you get the final payoff statement and whatever docs you need to prove you paid it off. Since the financial crash I've heard the banks make up bogus extra charges and then foreclose when they aren't paid.
 Quoting: mopar28m


Got it already with the pay off date. There is one charge on there I don't get & I've already contacted them about it.
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