Wow! You don't have to have missed a payment now for the banks to STEAL your property! They are doing it through "Appraisals"!

Part 1 Interview of a person the banks did this to:



[link to www.youtube.com]

Last Edited by NoSilence on 10/27/2012 02:25 PM

Part 2........



[link to www.youtube.com]

Last Edited by NoSilence on 10/27/2012 02:55 PM

Serves you right for not reading the contract you sign to get a mortgage.

There is some scary shit buried in there.

Just because "everybody does it" does not mean that it is safe, smart or good.

Not one Bump or Star or Pin suggestion.. You all must be looking for your bank contract.. Don't forget the small fine print on the back pages...

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Last Edited by NoSilence on 10/27/2012 03:11 PM

This worries me...

Are there specific banks that are doing this, or is it widespread?

thought the banks provided the initial appraisals before the loans are dealt with (in order to get a loan they appraise it)

if anything comes out of this they should be the ones paying if they over appraised a property - it sounds like fraud again

I don't know. But thanks for the question and your concern.
I'm hoping that this thread gets some legs and maybe someone could add to this..

Thanks Billy......

what about MEXICO..ITS MORE FAIR THERE...RIGHT?

with the 45 trillion dollar law suit now going to court..GAME ON!!

Could happen if the million page contract has a stipulation about this. I imagine newer mortgages might have it.

I am sorry, but if it's in the contract you signed......the problem is people thought house values could never come down.

On the other hand, who was it to cause the values to fall? Thinking.....???

Mexico is very corrupt. But they are more opened about it. A few month back a governor and his entire staff went to prison.. There is a big push to clean their image.
What is nice is when you get pull over for a traffic violation, you just pull out a few dollars/pesos and problem is gone.. In two minutes your driving off and don't have to bother with court or higher insurance payments...

Yes.. Well said..

What will they think up next.

False, well in my case anyway.
A reappraisal can only be triggered if you try to refinance.
Keep paying your mortgage, like you agreed to in writing, and this won't happen.

Not true. Not happening. Geeze stupid doomstards believe everything they read in the interwebz. LOL!

thats called a "recall of mortgage"

they were doing it in the height of the FC crisis 2005-2009

peter g miller from realty trac first reported on it

Last Edited by Phennommennonn on 10/27/2012 06:03 PM

What if you have a fixed rate?

Its for "agenda 21"!

Thank you for the Pin...

The logic and intellectual capacity of your observation exceeds this thread.

If you're in Illinois, you're doomed! Banks are even making it hard to sell a home. You wouldn't believe what you have to go through just to sell a home. Every little thing has to be fixed before the home can be sold or it won't appraise.

at the time - country wide, wellsfargo and a few others were named

Screw it, let's all go live in our cars or in a tent then the banks don't get squat.

that was in the cap/trade bill - homes must meet green conditions

Honestly they are doing them a favor.


If you owe 750,000 dollars on a home that is worth 300,000 you are 450,000 upside down.

Say like the home value never recovers you could end up paying 2 million dollars over 30 years for a 300k home

Fuck that, get out and start over in a home that you pay what it's worth.

Then the local police bang on your window at 2am and harass you, or worse, find an excuse to throw you in jail and seize the car. You literally can't win anymore.

This is a bold face lie. If it were true then the MSM would be breaking in on every station every hour on the hour.

Yeah well, we all bailed their asses out didn't we? I don't know what the elderly are going to do when they have to downsize and sell their homes or even people that have to move.