"Ghost Inventory"

[Truthmatters]

Many of the loans sold towards the end were sold to avoid the seller frim taking in the shorts when the market collapsed.

There was fraud everywhere on the business end of this folks.

You can pretend it was all the fault of the people doing the buying but you would be wrong. The last round of people were lied to about their loans and many of the buyers may not have even exsisted. Forged papers to give the hot potatoe to someone else. These loans were then sold off in bulk and packaged with healthy financial commodities. It fooled the entire world which was largely unaware that the Securites business was opperating under new rules since 1999. Deregulation allowed them to package them off differently which made these sub prime sellable and profitmaking as long as you dumped them quickly.

Why are none of you asking "where did all this money go?".

Follow the money and you will find the person to blame.

 

[dilloduck]

Many of the loans sold towards the end were sold to avoid the seller frim taking in the shorts when the market collapsed.

There was fraud everywhere on the business end of this folks.

You can pretend it was all the fault of the people doing the buying but you would be wrong. The last round of people were lied to about their loans and many of the buyers may not have even exsisted. Forged papers to give the hot potatoe to someone else. These loans were then sold off in bulk and packaged with healthy financial commodities. It fooled the entire world which was largely unaware that the Securites business was opperating under new rules since 1999. Deregulation allowed them to package them off differently which made these sub prime sellable and profitmaking as long as you dumped them quickly.

Why are none of you asking "where did all this money go?".

Follow the money and you will find the person to blame.

I knew it was you all the time.

 

[Truthmatters]

Nope all my realestate was bought years before this law.

 

[auditor0007]

This is an interesting, related article that discusses the poor condition of many homes in foreclosure right now:

Houses in subprime shape lead price charge down - Aug. 22, 2008

The article makes another good point, albeit indirectly. It says that once home prices do stabalize, it's going to take a natural population increase to absorb all of these homes before the market actually begins to recover.

In other words, we overbuilt. There were just too many homes on the market to begin with.

Well, there were enough people that bought these homes initially....only at too high of a price and at risky mortgage terms...

the best thing that could happen is KEEPING these people in theire homes...if they go in to foreclosure, that just puts more homes, empty, on the market...and the bank will have to sell it below what they mortgaged it for anyway....

Why, they would not just refinance to the people in the homes, at the present value of their home, is uncomprehendable to me.... at least they would be getting some money back, immediately, through their continued monthly payment, albeit lower, it is better than having the foreclosed home sitting on the market for a year or two...and then sell it below what you could have refinanced the present owners at....

I don't know the exact numbers, but I've heard the percentage of these properties held by speculators at one point was close to 20%. There were and are a great many people who were or are holding these homes who didn't own them to live in them.

 

[Care4all]

The article makes another good point, albeit indirectly. It says that once home prices do stabalize, it's going to take a natural population increase to absorb all of these homes before the market actually begins to recover.

In other words, we overbuilt. There were just too many homes on the market to begin with.

Well, there were enough people that bought these homes initially....only at too high of a price and at risky mortgage terms...

the best thing that could happen is KEEPING these people in theire homes...if they go in to foreclosure, that just puts more homes, empty, on the market...and the bank will have to sell it below what they mortgaged it for anyway....

Why, they would not just refinance to the people in the homes, at the present value of their home, is uncomprehendable to me.... at least they would be getting some money back, immediately, through their continued monthly payment, albeit lower, it is better than having the foreclosed home sitting on the market for a year or two...and then sell it below what you could have refinanced the present owners at....

I don't know the exact numbers, but I've heard the percentage of these properties held by speculators at one point was close to 20%. There were and are a great many people who were or are holding these homes who didn't own them to live in them.

yes, i have heard a 10% number at one time and it could very well be 20%.

FYI
But to ease your mind, congress is very well aware of this and the Homeowner help programs that have been put out there so far to help home owners refinance, they have put in a clause that specifically allows homeowners that LIVE IN THE HOME, and NOT the ones that DO NOT, in order to qualify.

They eliminate speculators from getting gvt help.

care

 

[RodISHI]

Many of the loans sold towards the end were sold to avoid the seller frim taking in the shorts when the market collapsed.

There was fraud everywhere on the business end of this folks.

You can pretend it was all the fault of the people doing the buying but you would be wrong. The last round of people were lied to about their loans and many of the buyers may not have even exsisted. Forged papers to give the hot potatoe to someone else. These loans were then sold off in bulk and packaged with healthy financial commodities. It fooled the entire world which was largely unaware that the Securites business was opperating under new rules since 1999. Deregulation allowed them to package them off differently which made these sub prime sellable and profitmaking as long as you dumped them quickly.

Why are none of you asking "where did all this money go?".

Follow the money and you will find the person to blame.

Should be persons. It took a group to do this and truth is the watchdog was asleep as it was being done.

I started throwing a fit about the "Forged" and "Altered" documents in 2003.

Take a look at who made a big move in 1998-99 and kept on growing as they grew their "paper portfolio" and their non existent assets. BTW they are still growing and now they are using taxpayer bailout money to do it!!!!!!