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Originally posted by lostviking
reply to post by wiredamerican
You got that right Wiredamerican! Believe me, if I do get a new loan, it will be on an inexpensive home and I will pay it off as quickly as humanly possible. In addition, I will look for an owner carry situation, triple the payments, and own the property outright (except for taxes of course). I will never again buy a mini-mansion, the expensive European car or finance a lifestyle. I have learned frugality, the power of having less to maintain, and the freedom brought on by minimalism.
Banks are potentially in big trouble, because people are coming around. I can be equally happy on a houseboat. People are beginning to understand that when you consume, you are owned. The materialistic mentality of the 80's and 90's is gone forever. I think we have found that it doesn't take much to be happy. Good sheets, quality over quantity, and real food. Our decisions will impact the big builders, agrifarmers, and drug companies. We are going back to a time of sanity.
Very well said lostviking. Im sorry to hear about the troubles you are having and am glad to see someone who is fighting back. I lost my home to foreclosure this year, primarily because I lost my small business and the 200k I spent my life saving. I owned a restaurant and after 2 years I finally paid off all my loans and was ready to turn the corner.Well, unfortunately it was the summer of 2008 and oil shot up to $147 a barrel , gas prices went to $4.20 and my business was cut in half. I wasnt born yesterday so I wasnt buying the whole "supply and demand" bs that the mainstream media was spouting. I knew from the beginning someone was manipulating the oil markets to line their pockets at the expense of destroying the world's economy. (people forget that this is was started it all).
Sorry to get off topic, but what I am getting at is, the world needs to realize that the bankers are criminals! I will never let a bank use another penny of my hard-earned money.With the help of my family, I purchased an old foreclosed home for next to nothing and have fixed it up nicer than my old home. Minus the $1200 a month payment to the banksters! Americans have been brainwashed into believing that huge mortgages and other loans are just part of life and everyone needs to be in debt and a slave to the banks. When you step back , does repaying $300k on a $100k loan sound like a good deal to you? The problem is that everyone feels like they have to have a bigger home and a nicer car than their friends or family members. Im embarrassed to say that I fell for that game but it feels great to have finally been awakened.
I agree with you that other people are waking up, but I still fear for where this country is heading. Are Americans just going to sit back and let the big banks continue to steal our savings? It looks like the Europeans are fed up and are rioting in the streets. Will we turn off our tvs, put down our starbucks and stand up for our rights? I know Goldman Sachs is being investigated for the oil manipulation but I cant find any class action lawsuits for business owners that lost everything because of their greed. Why arent all these crooks going to jail for the mortgage scandel, the commodities manipulation, the banker bailout and the huge bonuses they have stolen from us taxpayers? When are we gonna say , enough is enough?
Originally posted by lostviking
For a year and a half I tried to make payments, but they were all returned or randomly put into a 'suspense' account (the funds have never been returned to me.
It wasn't that we couldn't afford the payment, we have excellent credit and a strong income.
The money was created out of thin air.
Originally posted by peter_kandra
If you had excellent credit and a strong income, why were you attempting a loan mod? You also say the payments were either returned to you or put into a suspense account. Where did that money end up? Did you ever try going to a bank branch to have them assist, or just make your payments there? Every time I have an issue with my bank (BoA), I usually go into the local branch and bitch and moan until I get it resolved.
Originally posted by crimvelvet
reply to post by lostviking
Everyone - Here is some background info:
This is the absolute MUST read: DOLLAR DECEPTION:
HOW BANKS SECRETLY CREATE MONEY
It includes the landmark "First National Bank of Montgomery vs. Daly (1969) was a courtroom drama worthy of a movie script.3 Defendant Jerome Daly opposed the bank's foreclosure on his $14,000 home mortgage loan on the ground that there was no consideration for the loan...."[/i]
The Banksters have been stealing this country blind for a century and giving NOTHING in return.