Tuesday, August 31, 2010

Short Sale? Who owns your loan?

There are hidden things that explain why the banks are slow to do deals with homeowners. The terms agreed to between investors, as loans are bought and sold can reveal much. The precedent set by George Sorros in his Indy Mac deal, have caused much damage to the housing market. That model for investors to buy guaranteed profits from the FDIC, on the back of American Tax Payers, was more than corrupt. The core of that corrupt deal, guaranteed George and his new bank a large profit if they foreclosed on the collateralized homes when they bought the loans from the FDIC. ANOTHER CORRUPT PART ABOUT THIS DEAL IS, GEOGE SORROS WAS THE LARGEST STOCK HOLDER OF THE FAILED INDY MAC... when it was being liquidated by the FDIC... AND GEORGE SORROS WAS THE LARGEST STOCK HOLDER OF A NEW BANK THAT HE CREATED WHOM THEN BOUGHT THE INDY MAC  LOANS FROM THE FDIC, WITH LARGE GUARANTEED PROFITS BY FORECLOSURE.

If the loans are foreclosed on, they are guaranteed large profits, but if they are modified, then no guarantee.

This precedent has also been used in the sale of other loans by the FDIC when they take over failed banks. The FDIC is / has been closing many banks weekly for three years now... Check on who owns your loan? Bank of America makes money as a manager of many loans that were sold to investors by the FDIC, with a guaranteed foreclosure profit...
Mike Jaeger Live blog

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