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Originally posted by lifeform11
reply to post by The Old American
i agree with your assesment of the situation. it is just a pity it stops there.
who's money does the bank loan out? their own? or other peoples? if it is other peoples money they loan out then how can they claim the property is theirs?
it would be like me loaning out 30,000 of your money to somebody and then when they cannot pay claiming the property as my own.
Originally posted by neo96
the banks get their money from the federal reserve
they then charge the bank interest on that loan
then the bank charges the person getting the loan on interest..
then that mortgage as its called gets either bought by fanny or freddy or mers.
that money comes from nothing its printed out of thin air the fed makes money the bank makes money and the home owner actually becomes the home owner after the loan is paid off.
just because people make payments does not the own the home they made a contract to pay for a property.
if people must hate someone here hate the government because they own fanny and freddy and they own the majority of all loans in this country.
and they are the ones ripping people off if they foreclose the mortgage industry in this country has too many cooks in the kitchen and nothing can be done without the nod of the us government.
edit on 6-5-2011 by neo96 because: (no reason given)
Originally posted by UcDat
Originally posted by lifeform11
reply to post by The Old American
i agree with your assesment of the situation. it is just a pity it stops there.
who's money does the bank loan out? their own? or other peoples? if it is other peoples money they loan out then how can they claim the property is theirs?
it would be like me loaning out 30,000 of your money to somebody and then when they cannot pay claiming the property as my own.
that and they use dirty tricks
banks lie change interest rates fub your payments and scam ya but hey blame it on the people bent over the table getting reamed. Thats the American way non?
@ The Old American maybe your old maybe you got your house paid for before the criminals took over but the young ones they are hooped heck even if it was an honest system there are no jobs and the one that have work are making less and paying more than ever just to live.
Originally posted by The Old American
My house has about 17 years left on the mortgage. I got my loan through Chase, and it's still through them. Everyone that I've ever told that my mortgage is through them has said something to the effect of "OMG Chase is evil they screwed me and my brother and his cat!" In the 13 years that we've sent payments to them there hasn't been one hiccup. We've refinanced to a lower rate twice with them and they did it with a smile and a "good luck and thank you for your business."
If you're young and not making enough to buy a house then perhaps you shouldn't buy a house. If you do, and don't make the payments, expect the bank to take their property back.
/TOA