California Victims of Foreclosure

[97leonard]

Since when did people who were foreclosed upon become victims. What are they victims of? Maybe unfortuanate circumstances, but other than that nothing. They took a loan in good faith and they failed to uphold their end of the deal. They are not victims. The real victims are all of us who continue to pay are mortgages as we agreed to.

[TheRomanianGQ]

If you're facing foreclosure, call Klein & Associates at 310-433-6712 . They can really help you stay in the home for 6-12 months.

[rewire69]

I would make the banks prove they own the houseby shoing they have the original contract.If they dont have them.Then the jerk wadds dont have a leg to stand on to do a foreclosure and so on .In that case you can even get lucky enough to get the title to the house free and clear.I do securitization mortgage audits and I am working to put a stop to all this crap putting people out on the streets homeless when the banks have committed Trillions in fraud.

[smoke489]

Debt is slavery.

You put the leash on your neck at the moment you sign your loan.

[Fwamwa1]

the thing that makes the foreclosure process even happen though is because of predatory lending.It does take common sense that if you make 50.000.00 a year you have no dam business getting a loan for a million or half a million.How ever the banks are also accountable due to the fact they knew you couldnt pay it and once the house is securitized and waited for you to default on the loan so they collect from the insurance on what you owe of your loan on the house.So they screw you purposely

[Fwamwa1]

Well the thing that makes the foreclosure process even happen though is because of predatory lending.It does take common sense that if you make 50.000.00 a year you have no dam business getting a loan for a million or half a million.How ever the banks are also accountable due to the fact they knew you couldnt pay it and once the house is securitized and waited for you to default on the loan so they collect from the insurance on what you owe of your loan on the house.So they screw you purposely

[razban01]

Foreclosures damage American economy as well families! See "Foreclosed America!"

[pureperil]

Victims? More like dumb ass peasants who can't read and have no understanding of finance or contract law. Durrrrr I make 30,000 working at Walmart durrrr I think I can afford $400,000 mortgage durrr. Oh that little part about variable interest durrrrr that wont ever happen to me durrrr I'll win the lotto or something durrr this time it will be different durrr.

[DEEZNUTZCORE]

It's amazing how these people portray themselves as "victims"

[jawsrock1]

We were told to stop making payments by our lender to qualify for a modification to! My wife and I didn't think it sounded right. It turns out that their managers said they were wrong to say that! WTF is going on???

[ShowdownInAmerica]

Make sure the bank even owns your loan! Ask them "Where's the note?" Free, online tool to contact your lender: h ttp://action.seiu.org/page/spe­­akout/wtnnpa

[rosieyposie7]

here in NYC - unfortunately, my mom, 86yrs & son are 4 years VICTOMS / DEFAULTED -> 1SOLD NOTE by COUNTRYWIDE -> BANK OF NY@ CIVIL SUPREME & this TRADER IS NOT OPERATING UNDER our 200 YEARS AGO

USA CONSTITUTIONAL CIVIL RIGHTS..

this BANK COUNTRYWIDE CROOKED - STOLED OUR SECURITY CREDIT RIGHTS - OUR CIVIL RIGHTS TO BORROW AGAIN is LIMBO SHOT@ CIVIL SUPREME OVER 4 YEARS NOW?

PRESIDENT OBAMA, we wrote you 3CERTIFIED, do you read your mails ?

CLOSE UP COUNTYWIDE/BANK OF AMERICA

[MrIncomeProperty]

I feel so sorry for you people who signed these mortgages and werent smart enough to read them. But thanks cuz Im buying them pennies on the dollar and renting it back to you

[olh1152]

I am a taxpayer and now I need to bail out Freddie and Fannie to the tune of 1 trillion. I am paying for someone elses house plus mine. WTF!

[VideoGuyNC]

A few words of advice here people. Don't trust the banks! They are faceless giants who could care less about individuals.

[Rspringscabin]

I bought 3 houses with a ton of cash down between all with rehabbin em. All were foreclosures. Its all about the haves and have nots. Way of life.

[billjesusgates]

i bought 10 foreclosured houses in a ghetto for $ 20,000 each. i am renting them out for $ 1,200 each. thank god for foreclosures.

[FaithfulAndTrue1]

Yeah right. No one can even rent at 1,200 right now. PPuulleeeezzzze!

[billjesusgates]

i am using section 8 renters. there are 80 blacks living in my 10 foreclosured houses and the gov't is sending me a check for $ 12,000 a month to me. of course, i'm packing heat when i check out the houses.

[dbastard1977]

Try to use the money for an education and a new trailer home....

[7514328]

I will, also, be converting our detached garge into a one bedroom/on bath for $875.00 a month. Foreclosures are a beautiful investment. God bless the USA.

[7514328]

I bought a 30,000 Sq. ft lot with a house for $300,000.00. It sold in 2007 for $795.000.00. I am purchasing a new manufactured home and renting it out on the property for $1,115.00 a month. Thats whats paying the property taxes and my Daves Famous ribs twice a week. Yes. Thank God for foreclosures.

[ARCHBOLD321]

It is what it is now, no matter who you want to blame. One problem is people are making the biggest investment of their life and not really knowing everything about mortgages, example variable rates, lenders are in the money making business period! But I do feel and understand what some borrowers are saying because I worked in one of the biggest Banks in the U.S. and the staff simply couldn't keep up with the loan modifications because it was new, had a learning curve like anything else!

[Beingreal40]

Lenders gained buyers trust placing them in a High yield Premium (highest commission for them) ARM loans showing no regard to the buyers finances or future outcome. Experienced real estate agents witness these trans actions.

Those of you blaming the buyer can obviously rebuild your own engine, build your own home, or perform your own open heart surgery. No need for you to sign or trust anybody.

This is the only crisis in history based on greed and lies. Do you really think it'll pass.

[isisqueenafrika]

Thanks for you comment. The brokers and lenders had a fiduciary duty to act in the best interest of the client/consumer. Instead, they lied, manipulated, cheated and, in some cases, committed blatant fraud.

[beerandon101]

soo, when are the homeowners responsiable for there own actions?? they are the ones that agreed to the terms of the loan? No one made them agree.. They could shop around, or do research on there own. Placing the blame on something else is weakness.. Alot of these people have intrest only loans, or the world famous Negative Am loan (broker loans as i call them).. They pick these loans because the ppl really couldnt afford the house.. so its there own fault-living out of there means..

[Dave985033]

It was so easy to get laid in the Countrywide west valley division where I worked. Obviously the women there had more on their mind then mortgages. :) and sometimes they lost home loan files !!!

i've written on some other sites about my experiences at Countrywide. I just thought I'd write something less harsh this time. It was one of the worst scenarios or places you could ever work in. Just a complete nightmare for me. In regard to the "easy" women, I didn't fall for it unfortunately.

[beerandon101]

Houses do not foreclose on there own!!! Its because you over financed and did not save your money. It is people just like you that made the economy the way that it is. So take a bow. Because you do not know what you can afford, and buy those new cars and cloths on credit cards if you are able to pay then why didnt you? Your dumb and do not deserve to have a home.. RENT DUMB PEOPLE!!!!

[BenitoAguirres]

Do not believed the goverment, they are not there to help citizens anymore, they are corrupt, lobbiest working for money and on top of bieng payd also by your taxes, double pay for stealing and mishandle the American money. Shame on them, nonetheless, Usury will pay, you'll see, the end is near!

[sharkloaner]

tHANK THE JEWISH BANKERS AND THE JEWISH FEDERAL RESERVE FOR ALL OF THIS!

[jandean61]

"Jewish" I dont think so.......you mean Christian...This happen under W.(No regulation FREE INTERPRISE CAPITOLISM)

[moniequa]

And thank to the stupid greedy bastards who are stupid enough to take out these jumbo loan for homes they can't afford.

[BenitoAguirres]

Not only do they profit out of one's forclosure, because the loan is insured by ING, bailed by the goverment with citizens money. Then, they sell to the best offer, and they profit again. While the foreclosed person looses all money because they attempt to seek for help.

[moniequa]

And who do you think the best offer is? It is stupid greedy asshole who probably spends beyond his means just like the stupid asshole whose home being foreclosed. The bank has done anything wrong their business is to sell shit if you're stupid enough to buy they'll sell it to you. So don't blame it on them.

[BenitoAguirres]

Most of the comments here are actually, totally, unsensible. It is a fact, fraud on the financial system, the goverment, and even those cheap realtors, ignorants, yet a mouth whose customer trusted. The truth is this lenders have steal peoples money, tax money from all citizens in the US. They have taken advantage of the need for housing, for the need to have "the american dream", now it is a matter of time before the revolution begins. America will no longer be America! It has to change.

[mongobobo]

These are all adults who should be responsible for their actions. When I buy something, I make sure I know how much it costs. It seems to me these people bought something they couldn't afford. If they bought a house 3.5 x their annual income, then they wouldn't be in this mess. Now if Countrywide increased their principal after they took out the mortgage, that would be one thing. But you knew what you were doing when you did it.

[stewardsproductions]

It is not up to Countrywide to do modifications or workout. IT IS UP TO THE INVESTOR OF YOUR LOAN. COUNTRY WIDE JUST SERVICES LOANS, CALL THEM UP AND I BET YOUR INVESTOR WAS NOT COUNTRYWIDE

[sandroeleven]

good point

[stewardsproductions]

I work there and the media will never know, all they want to do is bash all the mortgage lenders

[sandroeleven]

none of us know who that is though

[ciro9]

The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification's (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year's, depending on income. Leaving it up to the bank's to do this is akin to putting the fox in the hen house to protect them.

[sk8raz2k1]

I am sick of people blaming the Banks!

Take some responsibility for yourself!

Learn some basic economics...

[EscapeNewJersey]

LOL - Look at the way the Black man at the start of the video is dressed and his reduculous hair style and how he blames the entire world for his own problems. Who would hire this man?!? He is an embarrasment! I willing to bet he is a high school dropout also! How may jobs has he quit and gotten himself fired from?

[Tellingulikeitis]

Look at how you cannot spell the word "ridiculous" I knew you were poor dumb white trash. Talk about high school drop out, you can't even spell. Mr. KFC, I bought my $120,000 home..lol

[EscapeNewJersey]

The liberal politicials manipulated the market by forcing regulated companies like banks to lend to people (with nothing down) that had no business borrowing money! This is a grab for votes and to house illegal aliens after the latest amnesty fell appart! Biggest Freddie and Fannie political contributions went to Chris Dood, Obama, John Kerry, Barney Frank - Just follow the money and you will find the criminals!

[Tellingulikeitis]

You misspelled apart..lol Keep writing, the more you do, the funnier it gets.

[markclark5]

look, the problem does boil down to greed, but not on the part of the borrowers. they were just taking advantage of what they believed to be a once in a lifetime opportunity to recieve easy low interest credit. It's a given these people will bite the bate. Its the lending institutions that were irresponsible. Restructuring and reselling the mortgages to generate quick profits. I'm one of the ones who waited, though the stock market crash took a bite out of me

[EscapeNewJersey]

I don't get it, my father was a barber and I lived in apartments growing up. I worked in KFC and paid my way through college with no debt. I worked 10 years after college, and saved $175,000 dollars and then bought a home for $120,000 cash in 2001 when I just turned 34. See, I'm living proof you can start with nothing and save you money and bypass the mortgage scam. Most people are spoiled and wan't everything without saving - that is why this country is now on the brink of financial disaster!

[markclark5]

your from new jersy...figures

[EscapeNewJersey]

Jersey is a very expensive state, huge tax and insurance burdens!

[Tellingulikeitis]

$120,000 you must live in the ghetto or a jacked up neighborhood. I don't know of any place worth living in where the houses are as low as $120,000. And your comment of why were are in a financial disaster is wrong. Not everyone is losing their homes. We are in debt because of President Bush. Thank God Obama is in office. He will turn it around.

[EscapeNewJersey]

"We are in debt because of President Bush" - that is the stupidest think I have ever heard! People like you are in debt because they live way beyond their means and don't save! Obama will do nothing! Obama will give you nothing because there is nothing to give!

My home is nice! I bought before the housing bubble and bought it from a motivated seller for cash. Thats how you get ahead my friend. I live in one of the safest cities in America and have a view of a creek and a pond with ducks.

[Tellingulikeitis]

Don't be jealous because we now have a brother in the white house. It is our turn now. And no, I am not in debt. I have a good job and a big house. I was referring to the other's that I know who are struggling. I know there are a lot out there because you hear it on the news. I see it in my own neighborhood. But Bush's white ass is out. This is a new day. He will turn it around.

[EscapeNewJersey]

LOL Blacks are there own worse enemy! Black men are notorious for going broke. I'm just amazed at the stupidity of Americans. Poeple like me are always smart enough to come out ahead and use the stupidity of others as oportunities. LOL - its funny that Blacks didn't like Obama a yesr ago when he wasn't black enough - noth that Obama a bought the election he is suddenly black enough! Good luck with you stupid choices!

[Tellingulikeitis]

Don't be mad because we have a black president you racist bastard..hahahahah. We won, we are now in the white house. You will soon be able to smell that delicious fried chicken coming from the kitchen, you dumb fuckin cracker.

[pineapple1969]

but he won't turn it around overnight.  Its going to take some time because of the extent of the damage. In the mean time black, white, or zebastriped if you can't afford your home your S.O.L.

[Tellingulikeitis]

I thought you were white trash.  You write like one. That is why you are so impressed with yourself. Please, you started from nothing and you are still there. $120,000 for a house. What a fuckin joke you are. We don't want to hear about you $120,000 shack. Because we all know that is what that type of money will buy. What a fool..lol

[EscapeNewJersey]

Tellingulikeitis, you sound like another jealous and broke black affirmative action baby. You people all think you are going to get something with Obama. You will get nothing! You will be left sitting in your own shit again! You are not smart enough to get anywhere!

[Tellingulikeitis]

The only broke person is you, with your $120,000 home..hahahah. What is it, a doublewide? I'll bet you and your 1st cousin that you probably married will be happy..lol Obviously we are, getting over, there is a black president. You white trash are too funny. I do have a home and it is way more than $120,000. So sad that you think you have actually accomplished something. But your standards probably aren't all that high anyway.

[EscapeNewJersey]

The more you talk Tellingulikeitis, the more pathetic and bitter you sound. You will never get anywhere with that bitter, angry, jealous, entitled toxic personalty your have. I bet you never had save a penney of your money! My house is worth $310,000 now.

[Tellingulikeitis]

Father was a barber and you grew up in an apartment? So now we know you come from a line of LOSERS!

[EscapeNewJersey]

But I bet I'm doing a hell of allot better than you, prick!

[nintengirl79]

Well, not everyone can live at home with mommy and daddy when attending college. I had to work straight out of high school and had to have my own apartment on 2 shit minimum wage jobs working 15 hours per day. So it was nearly impossible to go to school and save money to purchase a used car, much less a home. A roof above your head and a job is sometimes more important than going to college. Everything is not just black and white. You were just one of the few who had a chance. Some never get any

[EscapeNewJersey]

I lived in 10 x 8 a dorm room at BYU for 4 years! I worked at KFC for 6 six years to pay for it. After college I woked for $25,000 for 3 years, $30,000 for 2 years, $40,000 for 2 years, 54,000 for 2 years, then $65,000 for 2 years. All that time I saved and invested my money where I saved $200,000 in 11 years. For 7 years I worked 3,000 miles from my parents and paid for a one bedroom apartment. I paid cash for my place in may of 2001 and I still own it. Its not fun but that is how I did it!!

[moniequa]

People should look up to your as a role model, I know I do. You're responsible with your money and at the end it pays off because you own your own home. You understand the value of your hard earned money spent it wisely. People in the video are idiot, they spent the money they don't have and now they're crying for help they need to grow up and stop begging for handouts.

[jman1863]

Bottom line here is we "all" have to take personal responsibly for our decisions and then how we act upon them. Come on now people... If a mortgage company told me to "STOP" making my monthly payments I would instantly realize that my relationship with that financial entity was questionable. Rule # 1 "NEVER STOP MAKING YOUR MONTHLY PAYMENTS" if you still have the ability to make those payments.

[neil7d]

Debt Solutions Group can assist many homeowners with loan modification and renegotiations. For free consultation, please call 888.844.3557 ext. 6115 or 6103.

[rjsmitty69]

This guy realy has no idea how it works .. They sould have hired an adviser berfore putting 0$ down with teazer rates for the first two years then it goes up by alot of money . I dont have a house because I could see what contract said .. You cant just get something for nothing and thats what these people were thinking and they are now finding out what the cost is .. Its sad but could have been avoided ..

[b2flyer1]

rjsmitty69:How can say these people thought they where getting something,for nothing? No one commenting know the fine details of the loan.What has,and will continue to hurt the martket,GREED.Greed from lenders,and the kinds of loans they sold home owners.Granted,no one held a gun to the home onwers head,making them sign intrest only,or loans with ballon options..The crashing housing market,some banks failing,are woes to what the usa will be in the furture.Stick around and watch the collapse.

[mongobobo]

3.5 x your annual income = the house you should buy.

I'm assuming these people were told the price of the home they were buying before they bought it, not just a monthly payment.

[pineapple1969]

true, if it sounds too good to be true it probably is. If you don't have squat to put down should tell someone that they cannot afford a home.

[john67elco]

I'm in Rancho Cucamonga and I'M the real victim. I had to rent while idiots ran out bidding up properties they could not afford. I'm glad I waitied. Others should have waited no matter who told your ass you could afford a 500k house earning 50k a year. Do what you shouldve from the start, RENT!

[moniequa]

Thats right, I agree with you. If people make only $2 a year they shouldn't take a $200000000000 loan.

[Jevezy]

@moniequa : Why are you being such a judgmental, hateful, heartless, selfish jackass? God! The people who agreed with you and voted up your comments are just as hateful, judgmental, heartless and selfish like you. Typical Americans, looking out for themselves, and kicking those who are down. Damn you people are heartless.

[moniequa]

@Jevezy, its not heartless it's reality, people are so fucking greedy that they fucked themselves in the ass. Don't fucking buy what you can't fucking afford. I love people but I hate the stupid assholes who fucking spend the money they don't fucking have. I'm not judgmental I'm just stating facts. They brought it on themselves, no one can save their God Damn asses.

[pineapple1969]

Amen to that. People can't have champagne and cavier on a tuna fish budget no matter what their mortgage lender says.

[Jevezy]

@john67elco: You are another judgmental, heartless, hateful, selfish jackass. You don't even know anyone of these people personally. You don't know what crisis entered their lives to put them in this position. Damn you are cruel son of a bitch.

[Ariegiggles]

@john67elco Oh stop. rofl hahahahhahaha. The truth is that the real properties values are being shown now. A $500,000 5 years ago was a shack. So really it is good property values have dropped. People lost money but the cost of homes was outrageous.(and still is in my opinion) Especially in CA....BTW, I live in La Verne. And yes, I RENT.