WTF, BoA!?

[Mad Scientist]

…valued at $133,464, though they owe about $177,000.

And what exactly does BoA hope to gain by foreclosing?

They have insurance against foreclosure on the house and in many cases, multiple insurance policies. So the bank makes even more money if you are foreclosed on plus they have the house!

On top of that they get you to lie about what you make so they can give you a bigger loan. They get the appraiser to inflate the value of the house so they can get a bigger commissions and fees.

You see that it is to their advantage to put you into a mortgage that you can't possibly afford?

 

[C_Clayton_Jones]

I wish I knew their game plan, CCJ. I hate when I can't make some sort of sense of things. Logic should be a natural law.

The plan is kill or be killed capitalism, the strong survive, the week perish. Per free market dogma, however, such an abusive entity would go out of business, the victim of outraged customers taking their business elsewhere.

But in this age of ‘too big to fail,’ we also have ‘too big to care.’ The problem is corporate America isn’t afraid of the consumer. The ‘natural regulation’ of the free market is no longer in effect – hasn’t been for quite some time now. Consequently corporations do as they please, fighting needed Federal regulation as ‘socialism,’ knowing the consumer is powerless to oppose them.

The whores in Congress are aware of this, their true constituency the corporations, not the people.

 

[BDBoop]

I wish I knew their game plan, CCJ. I hate when I can't make some sort of sense of things. Logic should be a natural law.

The plan is kill or be killed capitalism, the strong survive, the week perish. Per free market dogma, however, such an abusive entity would go out of business, the victim of outraged customers taking their business elsewhere.

But in this age of ‘too big to fail,’ we also have ‘too big to care.’ The problem is corporate America isn’t afraid of the consumer. The ‘natural regulation’ of the free market is no longer in effect – hasn’t been for quite some time now. Consequently corporations do as they please, fighting needed Federal regulation as ‘socialism,’ knowing the consumer is powerless to oppose them.

The whores in Congress are aware of this, their true constituency the corporations, not the people.

And where can we go from here?