Predatory lending claims emerge

[Gantzer1]

any of you blaming stupid people for this are worse than the morons who bought into it, kinda like blaming a woman for being raped because her skirt was a weeee bit too short and sending her to jail.

[Gantzer1]

Step one, engineer your society to be massively ignorant, achieve this by gutting education system by buying out politicians over the decades... Check.

Step two, run tens of millions adverts to sociologically program people to believe that this is in no way a property bubble and stay confident in the fact they assume you are a legitimate business that does not commit fraud because of its public standing .

Step three ensure that your complex algorithims programmed into you loan system

[Gantzer1]

designed by some of the worlds most intelligent mathamaticians are not only impossible to work out but all blow up at the same time.

Step Four, Rape the poor of what meager wealth they have in one giant economic collapse creating vast numbers of working slaves that ensure society drags down "holdouts and prudes" that have not bought into pyramid scheme.

Step Five, get prudes and new destitute slaves fighting against each other over who's to blame with use of paid trolls.

Step Six,.... Profit.

[jburr36]

Any person who does not take the time to understand what they are agreeing to, does not read what they sign, fails to document their demands, or accepts only an oral interpretation of what they sign by a lender (there are NO -N O N E- ZERO - oral agreements in a real estate transaction. Written agreements ALWAYS prevails) or anyone who just focuses on the monthly payment and not much else are what I call IGNORANT NAIVE PREDATORY BORROWERS who deserve everything they get when things go wrong.

[jburr36]

who made poor decisions and poor planning with their finances. When they make a victim out of a defaulter they automatically demonize the creditor at the same time. Disgusting. Others get into trouble, mainly on foreclosures, because they fail to understand what they are signing into. Again their own damned fault. I would NEVER put my signature on a document without a complete understanding of what I am agreeing to.

[jburr36]

Soon they borrow more to 'improve' their standards of living but the big problem is that if they have to borrow it they most likely aren't saving anything for rainy days so to speak. Suddenly something goes wrong like a lost job and all hell breaks loose. Who's fault is that? We all know who's fault it is but we have a sympathetic media portraying defaulters as victims and coining fartsy terms like 'predatory lending' which has the sole purpose of making victims out of defaulters

[MrWatchdawg77]

Can someone explain to me how one is forced into a bad loan?

[jburr36]

@MrWatchdawg77 I tried to come up with every possible way to explain how someone can be forcd into a bad loan and the only one I can think of originates in the mob. I have no sympathy for those who take out stupid loans. They make poor choices. That's why they're poor. Who the fuck would signed onto an ARMS loan deserves everything they got in the end. I bet they go to those stupid payday loan places too and pay 489% APR on a post dated check loan.

[MrWatchdawg77]

@jburr36 You're right! Mob mentality is out of control! Some folks just don't have any sense of personal responsibility, so they just go with the mob!

[jburr36]

@MrWatchdawg77 It's too bad people feel they have to bite off more than they can chew. Young people today think they're entitled to all the luxuries of life now thus they borrow their wealth now rather than accumulate wealth as time goes on. Not only does that erode personal confidence and personal responsibility it locks them into a financial prison sometimes projected for decades. At 1st they pay their bills and their credit score goes up and they convince themselves their responsible.

[MrWatchdawg77]

@jburr36 A hippie friend of mine said the other day when I bought a Fuji Water, "Water should be free! I disagreed and asked him if he thought food, housing and clothes should be free too, and then he realized the absurdity of his statement. Conservatives must ask the proper questions and challenge the Left! Conservatives must also learn how to articulate conservationism an learn how to organize! We must also remember that Social Democrats are not "liberals," they've just hijacked the word!

[jburr36]

@MrWatchdawg77 Yeah. It's funny how those people think. I talked to one who believes that heath care is a right. I asked her why she believed she is entitled to any product or service of another at no expense to her. She replied ambiguously stating it is only humane to help the suffering. I did the same as you. I asked her then when what would be the limit to that entitlement? When the one she's demanding the service from goes bankrupt?

[jburr36]

@MrWatchdawg77 Then I asked her who would decide how a person is sufferring. Would they suffer because they don't have a car to drive? When they don't have a cell phone, internet, cable TV, etc. She said I was being ridiculous. I said really? I knew she worked in a restaurant. I said starving people suffer immensly. I said let's compell your boss to provide free food to the homeless. It's only humane. I said Lets take 60% of her wages to pay for it then 70% THEN 80%

[jburr36]

@MrWatchdawg77 then 90% because it will never be enough. She just stared at me. I also reminded her that her boss has to contribute the same thing. I asked her how long she thought she would have a job and how long her employer would be in business. She said to just have the rich pay for it. I said the rich aka investors are the ones loaning her boss money to start businesses that give her a job. without the rich she would be unemployed.

[jburr36]

@MrWatchdawg77 I told her that her idealism is a slippery slope into a 3rd world nightmare. I said it is incredibly naive and morally wrong to force people to be compassionate. That's psychological slavery. Her idealism is based upon the believe she is compassionate but in reality her compassion always comes forcibly at the expense of others, never themselves and that those rights are always class warefare based. She still sees nothing wrong with that. She needs her standard of living cut.

[MrWatchdawg77]

@jburr36 I saw on the news yesterday that the Democrats are trying to give "needy" people free cell phones! I wonder if they'll get iphones loaded with propaganda apps? Democrats are like 5th graders running for class president on the platform of "free candy!"

[jburr36]

@MrWatchdawg77 I read that too. I just wanted to vomit. Next the taxpayers will be forced to buy these social parasites cars, and vacations to resorts. Just wait. Those will be the next 'human rights.'

I make less than $15K a year and I'm buying my 1st house. My payments are going to be less than half of what it would cost me to rent one anywhere near here ($268 per month + taxes and insurance). 3 bed, 1 bath, 1350 square feet on .25 acres in a rural town. I mean... come on..

[jburr36]

@MrWatchdawg77 People ought to make a budget. Save money. Understand what they are agreeing too. My interest rate is 4.625%. These people buying into ARMS loans should have done their research. I get real tired of hearing about people claiming that they are forced into these loans and how much of a victim they think they are. In my opinion it's the really greedy people who are foolish enough to allow themselves to get caught up in loans they do not understand and end up like this woman.

[Soneenee]

The best to beat foreclosures is to pay your god damn mortgages.

[laninamia]

VID_00007-20100918-1522.3GP RATA DE DOS PATAS JOSE HENANDEZ

[SexSteakSoda]

Exactly how are the lenders the criminals? Its these people's faults for not reading the contracts. If you can't afford a lawyer to look over a mortgage contract, then you can't afford a house. Plain and simple. I bet these people don't have insurance on their homes either. They live pay check to pay check and literally could not afford a home. If you can't pay the bill, don't borrow the money.

[deltapunk21]

People apparently are upset their contract and their ARMS reset as exactly the contract said and now the crooks the thieves the DEBTORS want to steal more just like the greedy undeserving consumerist pigs they are only the investor is hurt in this scam of an imagainary boogeyman "predatory lending" aka lending to people who can't pay up is absurd No businessman has ever or will ever do such a thing but on the other hand the state has had this as their POLICY for years-"affordable housing"

[1414sunstar]

We need aggressive compentant lawyers to help homeowners save their homes from these white collar criminals.We need legal help.These lenders know our financial information and then drag cases out in court .They know you cannot afford all the lawyer fees. By law,lawyers are to do at least one pro-bono case per year. They need step up to the plate and do what's right. We are still hoping for justice to be served concerning the illegal sale of our wonderful farm.

[scamfighter100]

Take whatever money you have out of commercial banks and put it in a credit union. Take control.

[whoo689]

It's like these silly commercials for car companies or dealers that say "bad credit? no problem!" What a load of shit! Of course it's a problem. You want all your buyers to be deadbeats who can't or won't pay for the thing, and then you have to repossess? That's just bad business strategy. We have a credit rating system for a reason. If companies are just gonna ignore that and give a bunch of credit to people with bad credit, might as well get rid of credit rating agencies.

[whoo689]

You got all these Democrats and welfare liberals saying "Save the homeowners!" after they take bad loans they know they can't afford. I'm sorry, but that's not how it works. You don't need a house if you can't yet afford the payments on the loan. Either get a less expensive house or rent a condo or townhouse for the time being.

Why the hell does the gov't need to artificially expand homeownership? It's fuckin stupid! It's based on myths and nonsense about the "importance" of housing.

[whoo689]

A reasonably-sized condo or a townhouse is just as good as a house... unless you have 14 kids and need a lot of room or something similar. And yes, there are some private sector organizations that make low-cost housing, so it's just not HUD that can provide it. HUD is useless and pointless. There are ways to increase homeownership without it and the encouraging of subprime lenders. Subprime lenders should never have existed in the first place. You don't give loans to folks w/ bad credit.

[SexSteakSoda]

@whoo689 Deregulating facilitated junk loans that literally never existed before the Bush administration. Teaser rates, ARMs, credit default swaps, and securitization of AAA rated bonds with SUBPRIME loans were illegal under every president until Bush pulled the rule. Yeah, definitely the "libs" fault. Idiot.

[whoo689]

Ooh, it spiked a mere 3%! Come on! It can't be that bad. I thought the announcer would say it spiked from 6 to 16% or 26% interest. Now THAT would be bad.

[whoo689]

$4,000 monthly payments?? WTF!

So, the payments BEFORE the loan interest spiked were still well over 2 grand, right?? So isn't it her fault for taking out such a huge loan i nthe first place? I mean, if the lender didn't say anywhere in the terms that they could spike the interest 4%, and they did, that's a travesty, but she should've at least prepared by making sure she had enough money to cover the payments just in case. I have no sympathy for this subprime bullshit and the deadbeats.

[denimblueindigo]

These predatory lenders should be punished big time. Bring the home owner in, go over their finances, set a payment and interest rate that they can afford and let the lenders eat the rest. That'll teach them.

[thscott]

A home is supposed to be the most important purchase of your life.. Why would you get into a mortgage without understanding the details???? Harsh, but she deserves it.

[sharonafox1]

Anna is right...it is fraud,,,and it should be illegal. We need leaders who will change these predatory practices.

[stemikger]

She's hot.

[liebejill]

Poleag should view the video again.

[poleag]

why didn't she just get a fixed rate in the first place?