nationwide foreclosure moratorium!

[creechrr]

[quote]
If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

Very good point.

I think the only reason we haven’t had demonstrations or riots by the “responsible” and the ultimately parties that will be pay for this mess, is that we all have friends or family that are somehow caught up in this mess.

I do know that the America that I was taught about in school was either propaganda or was sold off to other interests some time ago. It absolutely does NOT exist today.

From what I have seen around me over the last decade or so, the rewards go to the lazy, dishonest and plain old irresponsible.

[davelj]

[quote=dbapig][quote=davelj][quote=flu]http://finance.yahoo.com/news/BofA-halts-foreclosure-sales-apf-977158216.html?x=0&sec=topStories&pos=3&asset=&ccode=

lol…Senator dodd’s quote:

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]

“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.

Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.[/quote]

If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

That is incorrect. US Government Bills, Notes and Bonds are unsecured (aside from the “full faith and credit” of the US Government – which is not tangible). A mortgage is a secured debt collateralized by a tangible asset (property).

I would refer to the nations that hold our debt as subordinated stakeholders. But not owners.

[davelj]

[quote=dbapig][quote=davelj][quote=flu]http://finance.yahoo.com/news/BofA-halts-foreclosure-sales-apf-977158216.html?x=0&sec=topStories&pos=3&asset=&ccode=

lol…Senator dodd’s quote:

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]

“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.

Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.[/quote]

If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

That is incorrect. US Government Bills, Notes and Bonds are unsecured (aside from the “full faith and credit” of the US Government – which is not tangible). A mortgage is a secured debt collateralized by a tangible asset (property).

I would refer to the nations that hold our debt as subordinated stakeholders. But not owners.

[davelj]

[quote=dbapig][quote=davelj][quote=flu]http://finance.yahoo.com/news/BofA-halts-foreclosure-sales-apf-977158216.html?x=0&sec=topStories&pos=3&asset=&ccode=

lol…Senator dodd’s quote:

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]

“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.

Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.[/quote]

If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

That is incorrect. US Government Bills, Notes and Bonds are unsecured (aside from the “full faith and credit” of the US Government – which is not tangible). A mortgage is a secured debt collateralized by a tangible asset (property).

I would refer to the nations that hold our debt as subordinated stakeholders. But not owners.

[davelj]

[quote=dbapig][quote=davelj][quote=flu]http://finance.yahoo.com/news/BofA-halts-foreclosure-sales-apf-977158216.html?x=0&sec=topStories&pos=3&asset=&ccode=

lol…Senator dodd’s quote:

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]

“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.

Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.[/quote]

If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

That is incorrect. US Government Bills, Notes and Bonds are unsecured (aside from the “full faith and credit” of the US Government – which is not tangible). A mortgage is a secured debt collateralized by a tangible asset (property).

I would refer to the nations that hold our debt as subordinated stakeholders. But not owners.

[davelj]

[quote=dbapig][quote=davelj][quote=flu]http://finance.yahoo.com/news/BofA-halts-foreclosure-sales-apf-977158216.html?x=0&sec=topStories&pos=3&asset=&ccode=

lol…Senator dodd’s quote:

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. [/quote]

“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! A home becomes YOUR home after you’ve paid off the mortgage. Until then, the lender is the senior partner in the arrangement and gets to choose what happens when you break the contract and stop paying. And this clown is on the Senate Banking Committee… no wonder we’re in such deep shit.

Now clearly the servicers haven’t handled this process well at all. And they deserve to lose their asses. But please. THEIR homes? That makes me ill.[/quote]

If you stretch that a bit, US isn’t our nation but other nationss that hold our debt… Just saying…[/quote]

That is incorrect. US Government Bills, Notes and Bonds are unsecured (aside from the “full faith and credit” of the US Government – which is not tangible). A mortgage is a secured debt collateralized by a tangible asset (property).

I would refer to the nations that hold our debt as subordinated stakeholders. But not owners.

[jpinpb]

[quote=davelj]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! …… THEIR homes? That makes me ill.[/quote]

Good point!!! If it’s their home, then no charges should be filed against the cop for destroying the house.

[jpinpb]

[quote=davelj]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! …… THEIR homes? That makes me ill.[/quote]

Good point!!! If it’s their home, then no charges should be filed against the cop for destroying the house.

[jpinpb]

[quote=davelj]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! …… THEIR homes? That makes me ill.[/quote]

Good point!!! If it’s their home, then no charges should be filed against the cop for destroying the house.

[jpinpb]

[quote=davelj]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! …… THEIR homes? That makes me ill.[/quote]

Good point!!! If it’s their home, then no charges should be filed against the cop for destroying the house.

[jpinpb]

[quote=davelj]
“Their homes”? THEIR homes?! That is rich. These are not THEIR homes – they’re the LENDERS’ homes! …… THEIR homes? That makes me ill.[/quote]

Good point!!! If it’s their home, then no charges should be filed against the cop for destroying the house.

[briansd1]

Let’s look at it another way.

As Binyamin Appelbaum of the NY Times said, the banks have from the beginning insisted on the letter of the law — they can continue to pay huge bonuses because employment contracts are binding.

Now, homeowners are saying that there is a legal process for foreclosing on collateral. The banks should follow the procedures and produce the documents to prove that they have the right to the collateral.

Is that too much to ask?

[briansd1]

Let’s look at it another way.

As Binyamin Appelbaum of the NY Times said, the banks have from the beginning insisted on the letter of the law — they can continue to pay huge bonuses because employment contracts are binding.

Now, homeowners are saying that there is a legal process for foreclosing on collateral. The banks should follow the procedures and produce the documents to prove that they have the right to the collateral.

Is that too much to ask?

[briansd1]

Let’s look at it another way.

As Binyamin Appelbaum of the NY Times said, the banks have from the beginning insisted on the letter of the law — they can continue to pay huge bonuses because employment contracts are binding.

Now, homeowners are saying that there is a legal process for foreclosing on collateral. The banks should follow the procedures and produce the documents to prove that they have the right to the collateral.

Is that too much to ask?

[briansd1]

Let’s look at it another way.

As Binyamin Appelbaum of the NY Times said, the banks have from the beginning insisted on the letter of the law — they can continue to pay huge bonuses because employment contracts are binding.

Now, homeowners are saying that there is a legal process for foreclosing on collateral. The banks should follow the procedures and produce the documents to prove that they have the right to the collateral.

Is that too much to ask?

[Author]

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