As a veteran of processing over 100 short sales in Redding and Shasta County I can tell you; sometimes things just don’t add up. Many times I’ve seen banks turn down offers and later sell the property after foreclosure for less than our original offer. How can this be? It just doesn’t make sense, or does it?
I think you too may be shocked at what you are about to see…
I’d love to hear your comments on this video!
https://www.thinkbigworksmall.com/mypage/archive/1/32275
F.Y. I you will hear the term “HELOC” in the video. HELOC stands for Home Equity Line Of Credit. In our area, many residents of Redding have used heloc funds to improve their homes or purchase cars ect. One of the reason construction is down in Redding or all of Shasta County is due to funds drying up as heloc loans are almost impossible to obtain throughtout Shasta County and most other parts of California.
All I can say is this is absolutely disgusting and vile. What can I, or any taxpayer-citizen do? Does my representative know about this? Absolutely shameless.
Indymac has been dealing with their mortgagees in a extremely fraudulent way. Taxpayers are getting the bill. They aren’t the only ones. Too many people thought it was just their neighbor inn trouble, don’t bailout them. We need to remove every loan in default from the books of the banks unwilling to share in the loss they created. I suggest the FDIC insures them, yet has given them bailouts and they keep these loans on their books at old values. The FED should buy up all the loans at market price, refinance at the new price to the people in trouble, the FED will regain the interest and profit, it sets a floor for housing prices, givee those in trouble a 50/50 share in equity if they sell before loan paid off, and the banks either make new profitable loans which they should be required to keep 80% of on their books, then they have an investment in seeing them do well. People will get a second chance, taxpayer will reap reward of truly giving Americans a second chance. Banks that made the loans absorb the loss- the way the market should work.
Politics in this country has been corrupt for way over 30 years plus along with our federal government. The Federal Reserve needs to go away – like that’s going to happen. Might take 80 years or so to correct all the corruption that has been festering for too long. Now that the Chicago thugs are running America into a third world country, we need to be politically active, educated and start voting in fiscally conservative new representatives. America has an ugly road to go down in order to return honesty and integrity; there are more of us than them and now that it’s so very obvious the government doesn’t give a rats ass what the people want, there will be a revolution, how many forms it will take no body knows at this point. Our private property and rights are under tyranny now, but don’t let them brake our spirit. Pray everyday, do what’s right and stand your ground. We need to return this country to where it belongs. This video really does expose the rape of American citizens by our Government the its corrupted tactics.