Paying my neighbors bills.

[Rachael]

To Truth Matters:

So you feel that if your neighbor makes 5 dollars and hour and decides that they want to buy a 5 million dollar house...then 1yr later they realize that (DUH) they cant afford the payments...you should pay it for them.

 

[DiamondDave]

The OVERWHELMING FACT (something this bitch confuses continually).. is that there was not fraud in the lending process.. as evidenced by the lack of civil cases against lenders who provided the loans...

Anyone who has ever had a mortgage can easily explain how every aspect of the loan is laid out in front of you to scrutinize and sign

People made bad choices... lending institutions have been forced to make loans available to people who would normally not qualify... and prices have dropped... all things that don't make people FEEL good, but all part of life...

It still does not make anything criminal... and it still does not make the results of bad decisions someone else's responsibility

 

[Truthmatters]

To Truth Matters:

So you feel that if your neighbor makes 5 dollars and hour and decides that they want to buy a 5 million dollar house...then 1yr later they realize that (DUH) they cant afford the payments...you should pay it for them.

So does that mean every person now underwater ( owes more than the house is worth) is just what you claim here?

 

[Truthmatters]

Real Estate/Mortgage Fraud: Facts, Figures and Closed Cases


Metro Denver Real Estate Agent Sentenced To Federal Prison for Mortgage Fraud Scheme
On February 6, 2009, in Denver, Colo., real estate agent Linda Edwards, of Centennial, Colorado, was sentenced to 41 months in prison, ordered to pay $646,521 in restitution, and forfeit $139,854 for wire fraud, false statements, and false use of a social security number. Edwards was indicted in February 2005 and found guilty following a jury trial in July 2008. According to the indictment, Edwards, aided and abetted by others, devised a scheme to defraud and to obtain money and property by means of fraudulent representations and promises from mortgage companies that funded federally insured loans. As part of the scheme, Edwards, and others working with her, located buyers to buy residences, but were unable to qualify for a mortgage using the buyers’ accurate credit history, income and employment, and/or other financial information. The defendant, and others working with her, would assist the buyers who could not legitimately qualify for an FHA-insured mortgage by: (i) obtaining a false social security number (“SSN&#8221 for the buyer, which would conceal the buyer’s unfavorable credit history; (ii) creating false W-2s or other income documents, which would inflate or wholly create income that would purportedly be available for the buyer to make mortgage payments; (iii) creating false verifications of rent (“VOR&#8221 or employment (“VOE&#8221 to support false information about the buyer; (iv) creating false alternate credit letters, which would create an appearance that the buyer had a history of paying debts timely; and (v) creating false “gift letters,” which falsely stated that the buyer had an appropriate source of funds for the down payment, and/or other false financial information.




Kansas Real Estate Agent Gets 12+ Years in Federal Mortgage Fraud Case
On January 10, 2009, in Kansas City, Kan., David Kostelec was sentenced to 154 months in prison and ordered to pay $1.3 million in restitution for leading a scheme to fraudulently acquire $12 million in home loans. Kostelec pleaded guilty in October 2008 to one count of conspiracy to commit wire fraud and money laundering, one count of wire fraud, one count of providing false information to lenders and one count of aggravated identity theft. In his plea, Kostelec admitted that from 2002 through 2005, he and others conspired to defraud lenders by submitting fraudulent loan applications and false real estate appraisals and attempted to conceal the crimes by laundering the money through accounts at various banks. Kostelec submitted false and fraudulent appraisal reports to lenders containing inflated property values and forged signatures of licensed appraisers. Conspirators stole the identities of licensed appraisers by searching the Internet for information including the appraisers’ state license numbers. After closing, the conspirators used straw entities including Alexandra Enterprises and Hyde Park Development to receive the money from escrow companies. Then they moved the money to personal accounts.

 

[Rachael]

No. Thats not what I said.

Im asking if its your responsibility. Just answer the question.

 

[Truthmatters]

Mortgage Lender Fraud - Investor Lawsuits Surge Against Lenders - Renting & Housing - GotTrouble Message Board - click solve evolve

Mortgage Lender Fraud - Investor Lawsuits Surge Against Lenders
An analysis of mortgage-related litigation and legal actions in the second quarter indicates active lawsuits filed by shareholders against mortgage firms jumped more than 50 percent from the prior quarter, according to the Second Quarter Mortgage Litigation Report released by http://www.MortgageDaily.com. The report, based on cases covered by MortgageDaily.com, was prepared in conjunction with the law firm of Weiner Brodsky Sidman Kider PC, which is known as a leader for its work in mortgage banking litigation.

During the second quarter, the number of investor lawsuits tracked by MortgageDaily.com that were filed against mortgage companies totaled 14. Four investor class-actions against IndyMac Bancorp Inc. were tracked, while three investor lawsuits against Downey Financial Corp. were covered. Franklin Bank Corp. faced at least two shareholder lawsuits.

 

[Truthmatters]

No. Thats not what I said.

Im asking if its your responsibility. Just answer the question.

The problem is that is NOT who is going to get the help from the program you are complaining about.

 

[Rachael]

Its not even worth discussing if your going to dodge the question.

 

[DiamondDave]

"Cases tied to individual bankruptcies and foreclosures are generally excluded from the report."

and linking to real estate fraud cases that had nothing to do with lending.. rather things like money laundering etc...

The bitch is stupid AND desperate

Epic fail

 

[Skull Pilot]

Who paid for your education?

Public schools are funded primarily by real estate taxes, so by paying my real estate taxes, I pay for the education children in my town, county, state. The question you should ask is where does all the tax money that is supposed to be for education go? On what is it squandered? and who is responsible for the waste and inefficiency?

the government will have you believe it is our fault for not wanting to pay ever higher real estate taxes but they have no problem voting themselves pay raises or squandering money on unnecessary art work for state offices or new curtains to the tune of 20 or 30 thousand of our dollars.

Who paid for the streets you drive on?

I pay for the streets I drive on. State and federal gas taxes, excise taxes and tolls are supposed to be used to maintain our roads. But you say our roads are crumbling. I ask again whose fault is that? Ours? What has all those billions in tax dollars collected every year for the maintenance of roads and bridges been spent on if not on roads and bridges?

who paid for the police who protect you?

If you have ever been the victim of a crime, you would realize the police don't protect you. All they can do is react to a crime and hopefully catch the perpetrator. Your best protection is your own vigilance.

But no one here has ever said we should have no law enforcement. that is merely another fear mongering tactic of the tax and spenders. Again ask those politicians whose first response to people who want accountability and fiscal restraint is to wail that police and firemen will be fired why they increase their own pay at the expense of your safety why police and firemen are always the first on the chopping block and not their percs.

I have paid taxes all my life and still am willing to do till the day I die to provide my country with the things it needs to stay viable and strong.

So have we all. But you in your naivete believe that the government is incapable of waste, corruption and malfeasance. you believe that giving more money to government is the answer when government has been so irresponsible with the money it already takes from us.

Where is your scorn for the people who tricked your fellow Americans into this mess?

I have scorn for the politicians who got u into this mess not the people who fall prey to government corruption.

How do you expect it to be fixed by blaming people who dont deserve any more blame than you do?

Holding one responsible for their actions is not blame. people who made bad choices have recourse under bankruptcy and foreclosure laws. they are not entitled to the fruits of my or anyone else's sound decision making and fiscal restraint.

How about the thirty year olds with 3 kids who were told 5 years ago they better buy or the prices will keep going up and they will NEVER own a home. Then their lender LIED to them about what they were signing and they found out 3 years later that their loan was a sub prime when they were told it was a 30 year fixed. There parents were protected by laws that were later repealed which made it profitable for their lender to lie to them.

How about the same person who didn't bother to do a budget and see that they couldn't afford the house they wanted. Or how about the person who kept refinancing every time his house went up in value so he could buy boats or cars or go on vacations, or who paid off all his credit cards and immediately maxed them all out again?

those people are not my responsibility.

T

he FBI is investigating several lenders for JUST these practices and indictments are coming.

Now you have to ask yourself why you dont know this?

Because someone you are listening to wants you to Blame these people who have now lost everything instead of the people who actually walked AWAY with the money.

Who doesn't want people to be self sufficient and responsible for their actions? Who benefits from this? Politicians who consolidate their power and influence by controlling your life, that's who.

When will you be concerned enough to actually find out the truth and back the right decisione to make it better instead of listening to the same people who dont want you to know the whole truth?

the truth is, no one was forced to buy a house, car ,boat etc that they couldn't afford. The truth is that people are responsible to read contracts they sign or hire legal counsel to do it for them.

If you want to help your fellow Americans start with your own personal responsibility. get your own house in order before you tell me how to live my life. Educate yourself on the basics of finance and economics (last time I checked libraries were still free). Save some money and live below your means not at or above your means. Be modest and humble and help your neighbor by shoveling his walk or cleaning up the streets or by volunteering at a school or park and not by paying his bills.

That is your responsibility not your neighbors' Take care of yourself so others can do the same and not have the fruits of their labor confiscated by the government who has done nothing but prove it cannot be as responsible with our money as we can be all under the guise of taking care of us because, as far as government is concerned, we need to be cared for.

Well I, for one, neither need nor want the government to take care of me. All I want from the government is to be allowed to take care of myself and my family. I will pay reasonable taxes for roads and services, but i expect, no I demand, the government be more responsible with the money it takes from us.

 

[Truthmatters]

So have we all. But you in your naivete believe that the government is incapable of waste, corruption and malfeasance. you believe that giving more money to government is the answer when government has been so irresponsible with the money it already takes from us.


Have you not seen my posts since I arrived here?

I have been complaining about it from day one.

 

[DiamondDave]

Who paid for your education?

Public schools are funded primarily by real estate taxes, so by paying my real estate taxes, I pay for the education children in my town, county, state. The question you should ask is where does all the tax money that is supposed to be for education go? On what is it squandered? and who is responsible for the waste and inefficiency?

the government will have you believe it is our fault for not wanting to pay ever higher real estate taxes but they have no problem voting themselves pay raises or squndering money on unnecessary art work for state offices or new curtains to the tune of 20 or 30 thousand of our dollars.

Who paid for the streets you drive on?

I pay for the streets I drive on. State and federal gas taxes, excise taxes and tolls are supposed to be used to maintain our roads. But you say our roads are crumbling. I ask again whose fault is that? Ours? What has all those billions in tax dollars collected every year for the maintenance of roads and bridges been spent on if not on roads and bridges?



If you have ever been the victim of a crime, you would realize the police don't protect you. All they can do is react to a crime and hopefully catch the perpetrator. Your best protection is your own vigilance.

But no one here has ever said we should have no law enforcement. that is merely another fear mongering tactic of the tax and spenders. Again ask those politicians whose first response to people who want accountability and fiscal restraint is to wail that police and firemen will be fired when they increase their own pay at the expense of your safety why police and firemen are always the first on the chopping block and not their percs.


So have we all. But you in your naivete believe that the government is incapable of waste, corruption and malfeasance. you believe that giving more money to government is the answer when government has been so irresponsible with the money it already takes from us.



I have scorn for the politicians who got u into this mess not the people who fall prey to government corruption.



Holding one responsible for their actions is not blame. people who made bad choices have recourse under bankruptcy and foreclosure laws. they are not entitled to the fruits of my or anyone else's sound decision making and fiscal restraint.



How about the same person who didn't bother to do a budget and see that they couldn't afford the house they wanted. Or how about the person who kept refinancing every time his house went up in value so he could buy boats or cars or go on vacations, or who paid off all his credit cards and immediately maxed them all out again?

those people are not my responsibility.

T

he FBI is investigating several lenders for JUST these practices and indictments are coming.

Now you have to ask yourself why you dont know this?

Because someone you are listening to wants you to Blame these people who have now lost everything instead of the people who actually walked AWAY with the money.

Who doesn't want people to be self sufficient and responsible for their actions? Who benefits from this? Politicians who consolidate their power and influence by controlling your life, that's who.

When will you be concerned enough to actually find out the truth and back the right decisione to make it better instead of listening to the same people who dont want you to know the whole truth?

the truth is, no one was forced to buy a house, car ,boat etc that they couldn't afford. The truth is that people are responsible to read contracts they sign or hire legal counsel to do it for them.

If you want to help your fellow Americans start with your own personal responsibility. get your own house in order before you tell me how to live my life. Educate yourself on the basics of finance and economics (last time I checked libraries were still free). Save some money and live below your means not at or above your means. Be modest and humble and help your neighbor by shoveling his walk or cleaning up the streets or by volunteering at a school or park and not by paying his bills.

That is your responsibility not your neighbors' Take care of yourself so others can do the same and not have the fruits of their labor confiscated by the government who has done nothing but prove it cannot be as responsible with our money as we can be all under the guise of taking care of us because we obviously cannot take care of ourselves..

 

[Truthmatters]

How about the same person who didn't bother to do a budget and see that they couldn't afford the house they wanted. Or how about the person who kept refinancing every time his house went up in value so he could buy boats or cars or go on vacations, or who paid off all his credit cards and immediately maxed them all out again?

those people are not my responsibility


Who said those were the ones getting the help?

This program is directed at the people who were Caught in this mess and didnt use their house as an ATM.

 

[GHook93]

I am 20 years old. Just starting my life out. I live within my means, and i don't purchase things ie. cars, HOUSES, boats, etc. etc. that I can't afford. And to hear about all these houses being forclosed because people decided to bite off more than they can chew, well call me a Redneck Republican, but its not my job to pay there bills. I would rather be considered a "Idiot Cowboy" who can pay his or her own bills rather than make millions of people pay them for me. I dont care that there trying to help people from there houses being forclosed, the point is, they should have spent a little more time going over there income, and making sure they could afford what they were doing. Instead they were worried about living in a classy more expensive neighborhood to look good. My parents spent 20 years of there life serving this country to then retire and now work for the government. Now at the age of 45, 48 after YEARS AND YEARS of hard work, they just bought there dream house. They waited this long, knowing that if they would have done it any earlier they couldnt have afforded it. My point is I dont want to, and shouldnt have to pay my neighbors bills. Its not my job, nor do I owe it to anyone.

Not saying you are wrong, but just curious, do you own a house? Please do not tell me you live with your parents!

 

[Truthmatters]

Mortgage Lender Fraud - Investor Lawsuits Surge Against Lenders - Renting & Housing - GotTrouble Message Board - click solve evolve

Mortgage Lender Fraud - Investor Lawsuits Surge Against Lenders
An analysis of mortgage-related litigation and legal actions in the second quarter indicates active lawsuits filed by shareholders against mortgage firms jumped more than 50 percent from the prior quarter, according to the Second Quarter Mortgage Litigation Report released by Mortgage News for the Mortgage Industry | National Mortgage Loan and Rates News. The report, based on cases covered by MortgageDaily.com, was prepared in conjunction with the law firm of Weiner Brodsky Sidman Kider PC, which is known as a leader for its work in mortgage banking litigation.

During the second quarter, the number of investor lawsuits tracked by MortgageDaily.com that were filed against mortgage companies totaled 14. Four investor class-actions against IndyMac Bancorp Inc. were tracked, while three investor lawsuits against Downey Financial Corp. were covered. Franklin Bank Corp. faced at least two shareholder lawsuits.

There are people who were wronged in this situation. They are the peopel this program is aimed at.

Why do y0u people insist on pretending something else?

 

[GHook93]

predatory lending is a myth.....

no one was EVER, EVER, EVER FORCED to sign a mortgage paper.... EVER!

BULL SHIT! Absolute bull shit! I started my career at Ameriquest Mortgage I saw predatory lending upfront and personal. Why do you think that are 200 pages in the loan docs? So the lender can only protect themselves. Why back then was it only required on 1 page in all 200 to say that this mortgage has a prepayment penalty. When one sold an ARM when the rates were low, the come thing was don't worry LIBOR never gets over 2%. It got to 8% not to long ago. When people are doing a stated loan most never looked at what the person was stating their income as.

I am sick and tired of people saying ignorant crap like this!

 

[Truthmatters]

good for you ghook

 

[editec]

When your neighor's house is on fire, and is threatening to burn yours down with it, pitching to to put out the fire of their house, EVEN THOUGH THE FIRE IS ENTIRELY THEIR FAULT, still seems like a good idea to me.

But hey, I understand you basical complaint.

My house is not YET underwater, either.

But a fire can spread across the landscape and threaten the property of others

Your neighbor's foreclosure does not have any bearing on whether you will go into foreclosure or not

Yes, in many cases for people who bought recently, it does.

The fact that you do not apparently understand that, does not make it any less dangerous for all of us.

If you own a home, and there are foreclosures in your neck fo the woods, those foreclosed homes are descresing the worth of your home.

If you happen to have purchase your home at the top of the market, even if you paid CASH, you are losing mucho dinero.

 

[Skull Pilot]

Have you not seen my posts since I arrived here?

I have been complaining about it from day one.

You have been complaining about people like me who believe government should be smaller and less intrusive not larger and more powerful.

You have been championing government more than you have been demanding personal responsibility.

Your attitude is shown when in response to another's criticism of the stimulus and more wasteful government programs when you ask

"Who built the roads you use?" or "Who pays for your education?" because you believe that government pays for these and you don't realize that WE are the ones who pay.

 

[Rachael]

No I do not own a house. I live in an apartment. Because right now...thats what I can afford. Im not saying that you will, but dont twist that saying "well then you have no idae what its like...etc."

Because I do. My parents made sure I knew about finances..and things that go with that.