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| Re: Cliven Bundy Arrested! (1346093) | |||
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Re: Cliven Bundy Arrested! |
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Posted by SelkirkTMO on Sun Feb 14 05:36:29 2016, in response to Re: Cliven Bundy Arrested!, posted by mtk52983 on Sun Feb 14 05:10:16 2016. What we saw upstate is that banks started foreclosures when the property was underwater even if payments were current. These were largely resold mortgages to the likes of Bear-Stearns and others that shouldn't have bought them in the first place. We were one of the Bear-Stearns mortgage sales and didn't matter that we were current and weren't underwater at all. Shitheads freaked out and decided to go after everybody anyway. The story that you heard was fable. At least as far as upstate New York. May have been different elsewhere perhaps. Good news is that in the end, we fucked 'em hard. :)The REAL problem though was that the "packages of mortgages" sold to investors by the Bear-Sterns of the world were shit, and they made things a whole lot worse all around. If anyone was underwater, it was the clueless Wall Street houses that bought crap without even bothering with the least amount of due diligence before they screwed their investors. And nobody went to jail over it. :( |
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