walk away from your mortgage ??? they are commin for YOU

Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.

The property is the security in the mortgage contract, in the event of non-payment the property is forfeited to the bank.. It's a business transaction ,not a blood oath you fucking idiot..
the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!

Lol....who cares! It is not going to matter soon. When the SHTF nobody will be paying their mortgage

I pay my upside down mortgage also, but when they bailout banks? Banksters walk and you go to jail?

I pay my upside down mortgage also, but when they bailout banks? Banksters walk and you go to jail?

Eh, I walked out of my house 2 months ago and never looked back
Catch me if ya can

Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.


the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!

Yes, that is exactly how this system works.

And I am paying my mtg. as well. Not upside down because I paid it down when I had a really good business going, then refinanced to lower my payment by more than 300 a month. (never refied to take out equity when it WAS there before the bust). Now I have a decent house and pay less than what you can get a one bedroom apt. rental for where I live.

Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.


the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!

So for them illegally manipulating Libor for the variable mortgages they are gonna show you that they are the only ones that can commit fraud and get away with it.

they are gonna show you !

no one ever said life was fair. the banksters will get theirs. but those thinking they did it so i can do it are screwed up in the head.

I never had a variable mortgage and bought a house 300,000 under what the bank was trying to give me. The problem is the price of the neighborhood crashed.

could be true,,, but what if your wrong ?

i'm a prepper yes,, prep for the SHTF .. but no-one knows how exactly its comming down. i also prep for a temporary financial collapse .. i'm payed up 3 months forward on my mortgage so whatever happens i'm not caught with my willy in the cold.

so i care !!

Got some news for you guys, the GOV can not do one damm thing to you if you walk away AND let the bank know your doing so!!!!!!! They talk the big talk and try to scare people into staying or paying there upside down house note. Truth is people that got screwed by the banks should tell them to puck off and let them know it's there problem.

so lets look at this....
banks over leveraged themselves and mismanaged their funds....stole depositor's money, crashed the banking system....got bail outs...and bonuses for their crimes...
then when the housing prices fall so low the bank started putting home owner into technical defaults with no way out....the home owner leave the house...
then the bankers send their police in to put these victims behind bars....
all the while these criminal bankers keep stealing more money and getting more bail outs....and having the government buy any toxic MBS's to get them off the bankes balance sheet so they can stop hiding the fact they are all broke.

i think we all should just go into our banks and hand over several thousand to the bankers for just being able to pull off the largest fraud in history....right in front of the world's eyes!

Attorney here, and this guy is right. There is absolutely nothing criminal about walking away from a mortgage, no matter which way you believe.

A contract is (although I don't personally agree) meant to be broken and there is nothing wrong with breaking it. To declare it "illegal" to break a contract would necessitate that you decide to buy a home, sign a contract, get denied financing and then go to jail for not being able to get financing.

Not going to happen.

no one ever said life was fair. the banksters will get theirs. but those thinking they did it so i can do it are screwed up in the head.

Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.


the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!