It`s sad to say but the paint is applied by workers acting on the banks best interest. Once a property is deemed a total loss, anything of any value is destroyed so that salvage is not possible. When a house is removed the cost can be anywhere from $10,000 to $40,000 per house hold. If the Market value is a total loss then the city taxes are not paid. The city becomes responsible for the removal do to safety and the banks get to claim the loss.
That isn't a crack pipe, it's a sink stopper ball and rod. Part of the mechanism under the sink that moves up and down when you close the drain. If it was a crack pipe, they would keep it.
drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life.
drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life. He really knows what he's talking about haha.
drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life. He really knows what he's talking about hahahaha.
Block and report the troller known as drummerforreal1, he trolls a forum that is for mourning a dead musician and makes fun of the dead guy to the people that are mourning and paying their respects, thats just as low as you can get, this bastard needs to be permanently banned from youtube, it can be done if enough people report him, he's complete scum!. Report him , block him, he is a parasite!.
Those people that left the property are criminal and should be prosecuted. But then the banks gave them a loan for a home they knew they couldn't afford, so who is to blame really?
Reality check. So many people don't understand that you don't own anything unless you've fully paid for it. I always correct my wife when she says to me 'let's buy a house'! Listen honey, I say, we don't have 200 000 dollars to "buy" a house and I have no intention of borrowing 170 000 or more to rent a house from any bankster cause over 30 years, we'd end up paying closer to 300 000 than the 170 000 we borrowed.
we went house shopping and visited some of the similar properties and lemme tellyou just a short tour of these houses will evoke a full range of emotions from amused, curious, surprised, to being disturbed, shocked, pity, depressed, then it gets to apoint of downright scary, squeamish, creepy and violated. Even just visit, you wouldn't want to stay long, it's a werid feeling
Once again, its not your home, its a bank's house. You borrowed their money to buy it and until you pay it off that property is theirs. When you destroy it you're vandalizing someone else' property and you will be prosecuted.
so you would destroy the place because you couldn't pay for it? that is totally pathetic. you borrowed which means you are going to pay it. if you can't pay, the bank has the house as collateral. you're attitude disgusts me. i know times are hard for everyone but destroying something that is not yours because you are mad is childish, irresponisible, and a sad reflection on your character.
childish my ass the american dream is long over due buddy and owning a house in the economy is a joke too many over heads and taxes soo i say the hell with the bankers and the brokers they are all greeedy bastards and i hope they destroy more homes ?
regardless of how you feel about an institution or greed and corruption, destroying what is not yours is still wrong. ultimately this rediculous idea only hurts the public via higher taxes for bailouts, much more rigerous lending standards, further declining home values, etc. none of this gives me the right nor the desire to engage in criminal activity via the destruction of another's property.
what ever you say is not going change a damm thing the housing market is done dome and gloom is here the free market economy in america is done in the real estate market hell and destruction is here
@watchmikerotch The reality is had they not bailed them out, their system of greed and theft would have finally come crashing down they have been robbing the American people blind for over 50 years under the guise of democracy. They ever bail out banks again and its time for my Ar15 to put some tennis ball sized holes in senators faces. Maybe then they start listening to the people again.
The problem is not the government. It is also not Wall Street. One simple reason why the housing crisis happened - K waves. The housing market is a long trend, approx. 80 years. Everyone knows that the stock market crashed in 1929. What most people do not realize is that the housing market crashed as well. Housing was down for 17 years after 1929. It will probably do the same thing again - it is the nature of capitalism.
Do you have the balls to go DIRECT to your congresspersons office and OBJECT to this govts corruption? Why? =- they havent stole any money from your pay check lately! Not that aroused you..
If you really think our govt is not the vandeles here, thhink again!. I was in Real Estate over 30 years and NEVER saw people who lost their homes do this!.. NEVER.. This corrupt govt is the cullprit along with their contributors.! This is a junk for clunkers program!! Destroy a house, re-build and put the rebuild as a ndew home construction real estate BOOM!! Govt Stats!
It takes two tango, corrupt government and stupid greedy pathetic poor ass people who don't even deserve to live a house to fuck up this real estate market to high heaven.
i feel sorry for the neighbors of those homes that were foreclosed and vandalized. you know their property values went down too. looks like a wasteland.
what a waste , end of america and western systems is jusr around the corner. we can only blame ourselves for this, letting these assholes in power run our lives.
Gads man, those poor banksters. Kind of bringing a tear to my eye, you know what I mean?
But I guess you are right. If the homeowner decides to go on a renovating binge the night before foreclosure, well then, they should at least spring for some Champagne.
drewd1987: Fair enough, I stand corrected. But whether the videos are faked or not, it is still the case that these things are happening on an unprecedented scale.
Everybody is saying that economic collapse is happening but where is it. I see no starving people or homeless, everybody is driving and shopping just like before.
ok you guys, i got news for you. the real estate market is doing good where there is a real economy and public transportation and safety ect. there are places around the country where the real estate market is doing ok.
if everybodys out of work and everybody loses there job ,nobodys going to be able to make house payments.the banks will own all the houses but all of them will be empty and stripped. and the banks will say we need another bail out obama
I warned you my fellow Christians, THE END IS COMING! Depart now from all form of unrighteousness such as fornication, homosexuality, pornography, watching violent entertainment, drug abuse, smoking, gambling, cursing, bullying, revelries, pursuit of money and idolatry etc. LEST YOU BE FOUND NOT WORTHY TO ENTER THE KINGDOM OF GOD.
A volcano situated in the US will erupt not far from now, when this happen you will know that this warning is from God.
And another thing now that you got me all fired up. Did'nt YOU read the contract? Lenders ca'nt prosecute if your implying criminal charges. They can access the damages and file a judgement. Regardless, these damages are nothing compared to the economic damages and hardships they have caused. Greedy little #### are lucky the roof is still entact.
Along with modifications. How are you suppose to modify $300,000 when you only qualified for $70,000. Brokers got paid high commisions for Option Arm loans. It's been proven on other U-tube videos that the lenders lied on applications to sell homes. Now after the trusting families savings is gone after trying to keep up with contract payments. The contract calls them a liar. And the homeowner has no copy of the application. Again, lender are lucky to suffer only a few can of paint.
Predatory lending is being placed in a loan you had no financial means of ever paying back. A fiduciary obligation from the broker, underwriter, and lender is to ensure you qualify. Yes, no one is forced to sign. But by your comment, your stating you can't sue for anything. Doctor for malpractice. Auto mechanic or contractor for poor workmanship, All businesses have a fiduciary obligation in order to hold a license. I don't blame these people for lashing out if this happen to them.
Same thing happened in Texas in the 1980's during a real estate collapse aka Savings and loan crisis. People vandalised houses regurlarly as well. It wasnt predatory lending then, just a commoditiy recession. People just tear up chit. Basically evil.
I am a property manager here in Dallas. Believe me - when you evict someone they usually destroy the interior just as a means of spite and hate. Disgusting! What a waste. PURE EVIL!
Im retired from HUD.. I have seen alot of the same thing happen to foreclosers.. We have ALOT of damage done to homes.. AGAIN here is where you Tax Dollars are wasted.. People have been caught damaging property and out Goverment doesn't do anything to them. Believe me I have Seen this.. they give them a pat on the hands and Nothing else. I have even seen ppl take stuff with my eyes and called local police but Again Goverment will NOT press charges agains the thiefs
The people who lived across the street bought a 4000 sq ft home and lived in it for 8 years without planting a shrub and didn't even own their own lawnmower. They moved in the middle of the night after stripping the house bare - cabinets, appliances, light fixtures, doors, furnace and air conditioning systems all gone.
There are people who are not meant to own homes and the answer is not to make it easier for irresponsible people to occupy housing they ultimately can't afford to maintain.
Though they did infer repeatedly that the homeowner themselves might have taken part in the vandalism. They did not focus on the contractors as being the likely source of specifically targeted vandalism.
I should have clarified that a contractor could have been screwed over by the builder directly OR screwed over by by the homeowner directly.
Sorry I made you suffer reading through a freakish, hybrid, dangling participle....my fault.
Ive seen it happen on homes several years old. NOT contractors, they can be prosecuted. The contractor will or should have a mechanics lein just for that reason (not getting paid)
With all due respect. I'm familiar with this field. Contractors have to pay a fee to file a lien. They don't throw good money after bad.
I know contractors personally who have "recalled" their equipment in extreme cases...everything from light fixtures to furnaces and air conditioners, molding, you name it and it's not illegal. Technically i t belongs to the contractor until paid. Some items aren't retrievable such as drywall, paint, etc. Frustration may result and yes, this stuff happens.
This house looks like it was lived in at one time. Sorry I dont buy that a contractor would waste paint and take only easily sold recycleable metals. Form now on they need to limit homeownership to hose who can put at least 20 to 30% down. All others need to rent. I paid 50% down on my house 20 years ago. Paid it off in Five. Many people are not responsible enough to own a home.
@drummerforreal1 The point is that throughout history to buy a house required a large downpayment. Giving houses away to people who cannot pay for them is what caused this mess. No skin in the game, get it for nothing tear the crap out of it and leave. Oh yeah that is now the American way. Hope you like living in a third world country. When people act like they just walked out of the jungle that is what you will get.
@enkelin32 We're all in this together and Have ALLOWED our gubament to create this NWO takeover. America has turned iinto a bunch of cowardly dumbed down and Prozacked up American Idol watchers. There should be a revolution over this
and the TarP bailouts for the rich. Compare this time to the provincial years of America and all the way up through the sixties!!! Asse would have gotten kicked over way less.
@drummerforreal1 That is true. I was there in the 60s. Before Friedmanism took over our goverment and mindset the government was for the people and not for the fascist corporations. We had Unions then that protected people from predatory capilatism and the people also believed in a days work for a days pay. Times have changed and it is "get it all while you can for a little effort as possible" on BOTH sides of the line. We have become a society of parasites from the worker to the boardroom.
@enkelin32 I also put big down payments on the four properties (residential) I've owned. I bought my restauraunt and bar w/cash. The oint is I was lucky enough to be in a small business I started in the 80's. I had a thriving bus for about 13 years.
Small business is almost dead now...No support from Fed ...So do you really blame people for taking advantage of the engineered giveaway house deal?
This is the contrived outcome from the money masters....It's just about game set and match for us.
@drummerforreal1 I can see why people in general took the trap, Like mice to cheese. It is human nature to want something for nothing. I have bought several houses starting during the real estate crash in Texas in the 80's. Bought them with little financing and in one case for actuall cash in full, (it was real cheap) mostly at auction. Ive read a lot about this recent credit crisis and mortgage brokers would go into neighborhoods and get elderly to refinance homes they had almost...cont
@enkelin32 Yeah they still are trying to get elderly mortgagors to go for the ripoff reverses!!! AS far as a new 30 year though, that wouldn't even make sense. But does it need to make sense anymore? We're screwed dude.
@enkelin32 Yea , The Market Oracle is where I saw the Baltic DRY Index for the first time. I thought man if no ships are moving, that's pretty serious. But anything I needed in life has still been available and plentiful including a new car. Walmart never has a problem being stocked. Nor Sears. Anyway, I got excited..YOu see I want real change...I don't want this slow death crash.. I want it mmediately. I really don';t see any other way to get a new deal shuffle except the FRENCH REVOLUTION way
@drummerforreal1 with the Nine Trillion dollars that the Fed and Treasury sent to the banks and Aig to pay to their creditors like Deutche Banks and Banco Santander and several other banks over seas as well as goldman sachs. They fixed up the credit system by backfilling the banks balance sheets world wide. The Brits and the Europeans did the same thing with their Quantative Easing. Literally trillions of $ Pounds and Euros going back on the balance sheets to cover the Derivatives (72 Trilli
cont... Trillions) CNBC did a breakdown in Nov '08 on what programs were used to revive the bad banks. Once the banks were reinflated they then resumed issuing letters of credit and the ships started moving again. They could now with reasonable surety believe the bank issuing the letter of credit would not become insolvent and dissapear. BTW those derivatives were mostly on coporate bonds not subprime mortgages. But poor people are a better scapegoat than corps...people accept blaming the
cont... blaming the poor more easily than an amorphous corporation. They can see the poor at the grocery or down the street. Most people cannot identify with a hedge fund manager or bond trader at Bear Sterns. So it is much easier to rail against the welfare queen than a billionaire who is much smarter than oneself. He must be, cuz he now has all your money and sent your job to China.
@enkelin32 He laughs last though. I see desperate people now knowing their bankster and politicians screwed them. They will want revenge!!!! There are many people w/guns and bucou bullets. When they get hungry or thirsty is when all hell will break loose.
Yes drummer, I agree that if it gets bad enough that people really suffer enmasse like they did in the 30's or maybe even worse that we might have a "French Revolution" type solution. If you remember that was also driven by huge government debt and foreign policy folly. Only trouble is those kinds of revolutions never turn out good for the people either. I do believe that we have not reached that level yet. I saw that happen where I live in the 80's and people just took it.
cont... There were 200 families living under the river bridge close to my house. People walking away from their homes. Living in car washes. Even the pawn shops put in drive through windows so the rich could pawn their rolexes. I bought a 4/3/2 brick home for 18K. That was the S&L crisis and the collapse of oil prices in Texas. People just lived through it. They should have been marching in the streets. Most are just sheeple, it will have to get to the point of actuall hunger.
@enkelin32 Well, if giant banks will take inflationary dollars to the tune of 9 trill, doesn't that indicate that all the dollar will crashers are full of shit? Makes gold look like wrong play too. Why didn't giant banks demand gold and other precious metals instead of toilet paper green dollars?? See my point?
What they got was essentially a replacment of all of the dollars that vanished into thin air when the Derivatives (toxic Assets) plummeted to pennies on the dollar. Remember that those derivatives were what they based their assets on the balance sheets on. When they took the money they went from negative worth to positive again. The world has not been on the gold standard since 1972. The Banks were just happy to still exist. Remember the FIRST to go bust was the French bank Paribas. cont..
Yes all of the dollar crashers are full of doo doo. If you really want to understand what has happened read "The panic of 1907" it was an almost carbon copy of what happened in 2007/8. Then Read "Lords of Finance" To see what the central bankers did wrong to cause the great depression. 2 of the 4 central bankers of the time (20's) chose austerity vs stimulation and started the dominoes falling into the great depression. LOL can you tell I got my BA in History It is my passion.
@drummerforreal1 LOL yeah for Goldman Sachs maybe... Not so much for some others like Lehman brs and Bear Sterns, merril lynch etc. Lots of them thought they were real smart but it blew up in their faces also. What many people dont know is we came very close to living in a Mad Max world. We came close to having a total economic collapse. World shipping almost stopped in 2008 due to lack of credit (no Letters of Credit were being issued.) It was way beyond sub or even prime mortg lending
@enkelin32 You know I got concerned and interested about the Baltic Dri Index back in 2008. Yet the stores were always full of goods? So was that a lie? Or did people not buy merchandise? If so we didn't need ships.. The cars were being shipped .. I remember that they were running out of places to store cars in 2008 and 09.....So something made me suspicious about the BDI reports.
@drummerforreal1 I know people who buy raw materials like Crude oil and chemical feedstocks and those ships were not moving. We were having trouble getting shipments in where I work. I do think there is a lag time when it comes to finished food items. If you ordered some items at that time you might get a long delivery. I know some clothes items I ordered were never delivered around then. I would give you the url but YT dosent allow it Ill copy and paste instead read this from cont...
@drummerforreal1 cont...from the Market Oracle. "Credit Crisis Collapse What Happens Next?" The credit crisis is spilling over into the grain industry as international buyers find themselves unable to come up with payment, forcing sellers to shoulder often substantial losses.
"Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don't trust the financial institution.....cont
cont... institution named in the buyer's letter of credit, analysts said.
"'There are all kinds of stuff stacked up on docks right now that can't be shipped because people can't get letters of credit,' said Bill Gary, president of Commodity Information Systems in Oklahoma City. 'The problem is not demand, and it's not supply because we have plenty of supply. It's finding anyone who can come up with the credit to buy.
That is just one article I cam across in 2008 describing what was hap
cont... Happening to world trade. In Henry Paulsons book "On the Brink" He describes not being able to sleep at night because the entire world economy was about to unravel and there wasnt a lot they could do to stop it. The FED and the Treasury pumped over 9 TRILLION dollars into the banking system before the end of 2008. A fact that many people do not realise. The TARP and the stimulus were just a small portion of what was done. Most peeps only listen to the radio, they dont get the truth
It wasn';t acoincidence that the money was released ad infinitum to create the bubble in the first place. I was just lucky enough to buy low and sell in bubbled up quity market. This is how i successfully satisfied all my mortgage accounts.
I can't blame renters from becoming instant owners when the free paper was dangled however. Wouldn't you take it?
@drummerforreal1 cont... almost paid off. If you come across "The Two Trillion Dollar Meltdown" read it. You will be amazed at the reasons why that money flowed like water and who was pushing it. or Google "The Global Pool of Money Got too Hungry NPR" and listen to the podcast. It will turn your stomach. It wasnt all about poor people who wanted more than they could afford. The derivatives that sunk the world economy were not only on subprime mortgages, but on all kinds of debt. Bonds et
@enkelin32 I already have a feeling it's the same NWO scumbags..The Rothchilds Rockefeller's soros etc... The same dirty motherfuckers that have been squeezing our balls for tha last two centuries...
@drummerforreal LOOK man, The house is going to fall. I'm all for it. I'm one of those , just get it over w/as quick as possible people. I want this lousy game to crash. But I also want tghe affected to grow some fuckeeeeeen balls. I 'm not saying fight in street. More like smart painful to the manipulators and family corrective measures.
@enkelin32 My bank tried to screw me with a loan set-up to default. If I hadn't been suspicious, having heard of mortgage fraud, I would have trusted them and signed. Then, with one of the booby traps they wrote into my closing papers, I'd have lost the house and all of my money. I'd have been angry enough to trash the place I fixed up if that had happened.
@hannahunney Yes a few years ago the banks didnt mind if people defaulted, they could just forclose and sell it for even more than before. Today that is not the case with property values falling instead of rising. The Banks used to use their mortgage making to make themselves 20k in fees for each time they resold the house. Then they would sell the mortgage to an investment bank to make into a bond to sell to investors. They made out like bandits all around. Never get an adjustable mortg
@enkelin32 The lack of responsibility is a factor, but mostly, a culture of have now and pay later has been instilled in us Westerners. People always scoff when you tell them that media is a tool for instilling certain behavioral patterns, but it's the truth man. A lot of the homeowners that bought these mortgages were good peeps, but too greedy/lazy to properly understand their package. And the bankers resecuritizing their mortgages didn't help either..
@CheeezMaster Yes securitization had a lot to do with these forclosures. I have read where certain mortgage brokers (not banks) would go into neighborhoods to see if they could find elderly people who had just about paid off their mortgages and refinanced them to get equity and a balloon payment after two years. The people trusted these guys since when they were young one could count on financial officers to be honest and very conservative. The joke was on them, they lost their homes.
I've work w/contractors & if it is banked owned the banks want to sell, it so they don't let the contractors back in. The same thing occurs when there is a bankruptcy. In many states most liens are only good for a few months. Within that time the contractor has to litigate -- talk about throwing good money after bad. These homes are in the twilight zone -- poorly built, too expensive and bank owned.
Actually, Daniel, you're wrong about the homeowner having the right to do "anything they want while they're the homeowner." Most mortgage documents have something called The Covenant of Good Repair" which means that the homeowner is required to keep the home in decent condition. Failure to do so is a breach of the mortgage document and a foreclosable offense. I'm no lawyer - just a former Realtor.
"The builder put that piece of crap up in 3 or 4 days, and somebody signed away 30 years of their life to pay for it. That's the crime."
Yes, it is a crime for that stupid someone to sign away 30 yrs of his/her life for a pile of woods. That someone should be imprisoned for being stupid and spending money they don't have.
Man, these owners are real Aholes. Put zero down and enter into a loan they knew they couldn't afford and now they're pissed that they're being evicted from "their" house for not paying the mortgage. Hey, I have a good idea, lets ask our government to bail these people out, those poor victims.
taking the toilet makes sense, really. A good toilet costs $150 and if you're the only one that's ever used it then why not remove it and to a new place (or sell possibly but.) Really easy to remove a toilet.. usually just 2 bolts and a messy wax seal at the bottom but no big deal.
Here in UK people are being removed from their home that they can not pay for. Some people trash the place, removing plumbing fixtures or even setting fire to the house!
You know whats weird,I was thinking ,why didn't someone call the cops when the place was being trashed,and then I realized,the entire neighborhood is abandoned! Shocking stuff!!!
Daniel, I can't believe you're lending your credibility to George4Title. A lot of people claim he conned them out of donations. Do you know what he did to Peter Schiff's reputation? Then claimed SChiff was suing him. Withing 48hrs he removed all of Peter Schiff's so called claims and threats. He was pitching for legal defense fund donations. Suddently, after donations, the Peter Schiff problem never happened. Daniel, if you associate with ppl like this, I will unsubscirbe your channel.
This what Denver looked like in the 1980s after President Reagan collapsed the alternative energy market on the Western Slope. It took 10 years to sell these homes and get them back into service.Foreclosed and abandoned homes in every block of the city With 12% unemployment in California situation is only going to get worse.
Although the effort put into vandalising the house is proof that it was likely the previous owners, what does it matter? The point is that this type of damage is likely occurring to foreclosed homes across the nation which will severely damage the property values of the surrounding properties while attracting homeless and vagrants. It's the reality that this real estate bust is actually self-energizing. People in this country are pissed that they lost the sold dream of something for nothing.
Wrong the housing market bubble and crash was caused by the Federal Reserve not because of poor people. Listen to how absurd that sounds. Like poor people could crash the national real estate market. You are all a bunch of dumb asses. Thank your corrupt politicians for allowing this to happen. Bush and Obama working hard to kill the American dream and you people help them.
I didn't say poor people caused the crash so don't apply your suppositions to me. This crashed was caused by both rich and poor abusing a credit bubble that Bush and Greenspan caused. Although, as far as property destruction goes, I do believe that angry and desperate poor people are much more likely to take the time to irreparably damage a property than someone who is well off and would simply move on and consider it a lost investment.
Oh, but you can't tell people who are mindless consumers that....they fuel the Reserve and the corrupt politicians.
Most of them could give a RATS ASS if our govt is corrupt and our Reserve is a cabal of elitist parasites, they give them respect b/c they have money and power, while they ridicule and kick those that are the truly exploited.
This guy is full of shit. He has no idea who or why that was done and to blame the former owners without any knowledge of who they are is just wrong. This guy is a talking head for the bank or realtors but his agenda is to blame the victim.
He is assuming that the previous owners of this house destroyed it without any proof. I am using my brain and you seem not to be using your brain. You take his word automatically without questioning what proof he has. That is the same mentality that was used to justify the Iraq war and look how that turned out. I will not take anyones word for anything you must prove it to me. This guy is a realtor, he has an agenda and it is not in the interest of ordinary people.
You don't seem like you watched the entire video. He is speculating that either the former owners became recentful and trashed their former home or after the home was abandoned the home was trashed by squatters.
have you seen his videos? he is just speculating, the issue is not who damaged the property, its the fact that this is what is happening all over the country. watch vision victory videos and become aware.
well the thing is he's right. i mean a new home and now the people now have to leave it. and depending on the mind set and the time when they left there home it's easy to think the owners would do this. with the mind set of "u bailed out the bank who gave me this house but they won't help me now let's see if they get any money from this house"
Well the thing is he is wrong. You do not have any clue what the people were thinking when they left and you do not even know if they were thrown out. There are a million reasons that house could have reached its current condition. You have no proof at all. Everyone is so fast to blame the victims in this world. Let us look at the real cause of this problem, our dysfunctional government and the Federal Reserve.
He is clueless on who did it. One minute he said the previous homeowners, the next he said some teens came in an vandalized the place. You can see he want's it to be homeowner. The truth is he doesn't know but wants to assume it was the previous homeowner. Like you said, there are a million reasons why that house reached it's current condition.
KIMCO was going to default. BAC owns ML. ML changes from sell to neutral. KIMCO has ML do an equity issue. the equity issues almost exactly matches a loan owing to BAC. Issus is a success! BAC is paid back. KIMCO stock rises (KIM)... what a joke. this is fleecing investors who are blind to the truth. Where is the SEC? going after small timers like Madoff so they can turn a blnd eye to the fraud of ML, BAC and KIMCO
Homeowners couldn't pay what they signed onto. Blame the lenders all you want, but if they got paid, everyone would be happy. I don't agree with bailouts for banks or reneging borrowers who want free homes!
The lenders know the complete credit history and the earnings of each person that applies for a loan. They're the ones that have gone to school for this and have been trained. While I couldn't agree more that people should know what they can afford, the lender ultimately has to approve the loan. That's why their the lender. If the requirement for getting a loan was a little higher than having a pulse, the housing crash wouldn't be happening.
Your are absolute correct....however we were operating in a false "free market". FNMA and FDMAC held 40% of the total secondary market. The secondary market is where most of these loans are purchased. The secondary market is made up of either private investors or FNMA and FMAC. The latter two are what are known as GSE's (Government Sponsored Enterprises). These two "companies" losses were backed by the US taxpayer. They were able to take abnormal risk without asking for appropriate compensation.
The appropriate compensation for "lair" loans or for sub-prime loans, is not .75%...however, that was the risk premium assigned to most loans. These lending practices along with "cheap money" from the Fed Reserve caused massive real estate speculation, this caused other investors to jump in on what seemed like a can't lose prospect, because of escalating real estate values. There was also much coercion by the government to force banks to take on riskier loans through the CRA.
The only people hurt are your former neighbors, folks! The banksters are still in their multi-million dollar mansions getting our bailout money while your poor neighbors have to deal with that eye sore and the criminals it attracts!!! Please think about the consequences before you act!! Write to your Congressmen, stage a peaceful sit in, organize a protest in front of the banksters' homes. Don't screw your neighbors!!
The truth can't be denied in video! I live in E. PA. and the commercial/residential real estate declne isn't nearly as pronoucecd as in S.Cal.Thank you to both you and george4title for being the Lighthouse!
Absolutely bang on! Material profit is a complete & utter illusion & can only be made @ the expense of another. Profit is an accumil@ion & possession of m@ter, subTlet¥ different from an 'increase' in m@ter ; th@'s the hoax. Any m@ter can only be converted, not increased. Any energy lost in conversion is not actually lost, but 'disappears' to an inner space quantum level th@ could incorpor@e the spiritual realm. Hence the only 'true profit' 2be made is...
...in the s@isfaction & pleasure had in the work of converting the m@ter. Just an idea...
The 'annotation' links @ the start don't seem 2work btw - I wonder if the banksters are able 2claim 'government compensation' 4this apparent vandalism? If so, I wouldn't be surprised if the banksters themselves were destroying the properties & claiming well above actual costs!? They are in the buSINess of extortion, destruction AND robbery, AFTER ALL!! Wells Fargo & Co. are flogging a dead horse.
It`s sad to say but the paint is applied by workers acting on the banks best interest. Once a property is deemed a total loss, anything of any value is destroyed so that salvage is not possible. When a house is removed the cost can be anywhere from $10,000 to $40,000 per house hold. If the Market value is a total loss then the city taxes are not paid. The city becomes responsible for the removal do to safety and the banks get to claim the loss.
TheTim123456789 3 months ago
i'll tell you what, GIVE THE PEOPLE $200,000 when you evict them then you the bank will get back a nice in tact house
BUT FUCK US AND THROW OUR FAMILY OUT LIKE DOGS TO BE HOMELESS AFTER 45 YEARS OF PAYMENTS AND COMPOUNDING INTEREST
YOU THE BANK WILL GET FUCKED AND A DEMOLISHED HOME WE WILL GIVE YOU THE KEYS TO RUBLE AND DESTRUCTION
GHDC175 4 months ago
cash for clunkers!!!
GHDC175 4 months ago
That isn't a crack pipe, it's a sink stopper ball and rod. Part of the mechanism under the sink that moves up and down when you close the drain. If it was a crack pipe, they would keep it.
handiest1 10 months ago
Scene from Sopranos, "Lay down and die like a good boy," Mr. Home Buyer.
GameOver1260 1 year ago
that's so sad to see man.
CheeezMaster 1 year ago
I don't blame anyone trashing their own house and being forced to move.
24Abstract 1 year ago
This is so F#@* up. I can not believe the greed and avarice. I live in a 30 year old POS and they are demolishing new homes. God Bless America.
RandallSteen 1 year ago
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drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life.
guitdude09 1 year ago
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drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life. He really knows what he's talking about haha.
guitdude09 1 year ago
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drummerforreal1 aka Jeff here is an ex janitor ffs lol. His dad also worked for NASA in a top secret lab and his brother is a famous book writer, as you can see he's also completely nuts and makes up fantasies to cover his old bitter life. He really knows what he's talking about hahahaha.
guitdude09 1 year ago
Block and report the troller known as drummerforreal1, he trolls a forum that is for mourning a dead musician and makes fun of the dead guy to the people that are mourning and paying their respects, thats just as low as you can get, this bastard needs to be permanently banned from youtube, it can be done if enough people report him, he's complete scum!. Report him , block him, he is a parasite!.
guitdude09 1 year ago
Drummerforreal1 is a troller, block him.
guitdude09 1 year ago
Those people that left the property are criminal and should be prosecuted. But then the banks gave them a loan for a home they knew they couldn't afford, so who is to blame really?
dmeiske1 1 year ago
these ppl know they got done wrong and they wanted to destroy their house, i dont blame them...
XxbrandynX 1 year ago
They have taken the toilet out!!?? WTF??? I will never look at a toilet in a foreclosed home!! Gross!!
Cyrus992 1 year ago
this is crazyness how bad is this going to get
snooch1975 1 year ago
America has become such a sick joke. Banksters are the scum of humanity.
CodexAlimentarius1 1 year ago
LET BERNANKE PAY FOR IT
Ironoff 1 year ago
LOOKS GOOD ON BERNANKE
Ironoff 1 year ago
Reality check. So many people don't understand that you don't own anything unless you've fully paid for it. I always correct my wife when she says to me 'let's buy a house'! Listen honey, I say, we don't have 200 000 dollars to "buy" a house and I have no intention of borrowing 170 000 or more to rent a house from any bankster cause over 30 years, we'd end up paying closer to 300 000 than the 170 000 we borrowed.
elnik32 1 year ago
Repetition always repeats itself.
breckandy 2 years ago
we went house shopping and visited some of the similar properties and lemme tellyou just a short tour of these houses will evoke a full range of emotions from amused, curious, surprised, to being disturbed, shocked, pity, depressed, then it gets to apoint of downright scary, squeamish, creepy and violated. Even just visit, you wouldn't want to stay long, it's a werid feeling
saigondj 2 years ago
i fell the same way i will wreak it too if it was my home fuck the bankers and the american deam of owning a home
ralpheboy94 2 years ago
Once again, its not your home, its a bank's house. You borrowed their money to buy it and until you pay it off that property is theirs. When you destroy it you're vandalizing someone else' property and you will be prosecuted.
moniequa 2 years ago 2
so you would destroy the place because you couldn't pay for it? that is totally pathetic. you borrowed which means you are going to pay it. if you can't pay, the bank has the house as collateral. you're attitude disgusts me. i know times are hard for everyone but destroying something that is not yours because you are mad is childish, irresponisible, and a sad reflection on your character.
watchmikerotch 2 years ago
childish my ass the american dream is long over due buddy and owning a house in the economy is a joke too many over heads and taxes soo i say the hell with the bankers and the brokers they are all greeedy bastards and i hope they destroy more homes ?
ralpheboy94 2 years ago
regardless of how you feel about an institution or greed and corruption, destroying what is not yours is still wrong. ultimately this rediculous idea only hurts the public via higher taxes for bailouts, much more rigerous lending standards, further declining home values, etc. none of this gives me the right nor the desire to engage in criminal activity via the destruction of another's property.
watchmikerotch 2 years ago
what ever you say is not going change a damm thing the housing market is done dome and gloom is here the free market economy in america is done in the real estate market hell and destruction is here
ralpheboy94 2 years ago
@watchmikerotch The reality is had they not bailed them out, their system of greed and theft would have finally come crashing down they have been robbing the American people blind for over 50 years under the guise of democracy. They ever bail out banks again and its time for my Ar15 to put some tennis ball sized holes in senators faces. Maybe then they start listening to the people again.
xiola6969 2 years ago
The problem is not the government. It is also not Wall Street. One simple reason why the housing crisis happened - K waves. The housing market is a long trend, approx. 80 years. Everyone knows that the stock market crashed in 1929. What most people do not realize is that the housing market crashed as well. Housing was down for 17 years after 1929. It will probably do the same thing again - it is the nature of capitalism.
tothatextent 2 years ago
Do you have the balls to go DIRECT to your congresspersons office and OBJECT to this govts corruption? Why? =- they havent stole any money from your pay check lately! Not that aroused you..
ministudioz 2 years ago
If you really think our govt is not the vandeles here, thhink again!. I was in Real Estate over 30 years and NEVER saw people who lost their homes do this!.. NEVER.. This corrupt govt is the cullprit along with their contributors.! This is a junk for clunkers program!! Destroy a house, re-build and put the rebuild as a ndew home construction real estate BOOM!! Govt Stats!
ministudioz 2 years ago
It takes two tango, corrupt government and stupid greedy pathetic poor ass people who don't even deserve to live a house to fuck up this real estate market to high heaven.
moniequa 2 years ago
i feel sorry for the neighbors of those homes that were foreclosed and vandalized. you know their property values went down too. looks like a wasteland.
jaysmic24 2 years ago 2
what a waste , end of america and western systems is jusr around the corner. we can only blame ourselves for this, letting these assholes in power run our lives.
diveplane 2 years ago 10
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860015 2 years ago
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860015 2 years ago
Maybe the barking dogs drove the inhabitants nuts.
farcicalaquatic 2 years ago
Gads man, those poor banksters. Kind of bringing a tear to my eye, you know what I mean?
But I guess you are right. If the homeowner decides to go on a renovating binge the night before foreclosure, well then, they should at least spring for some Champagne.
cuv4xd 2 years ago
using drugs? It was a screw driver. You guys are FRAUDS.
drewd1987 2 years ago
It didn't look like a screwdriver to me. But whether there was drug use or not doesn't take away from what they're trying to show.
icelanderson 2 years ago
Dude, look into george4title, He's already been PROVEN to be nothing but a scammer.
drewd1987 2 years ago
drewd1987: Fair enough, I stand corrected. But whether the videos are faked or not, it is still the case that these things are happening on an unprecedented scale.
icelanderson 2 years ago
Oh yes, I agree with that and I believe there will be an economic collapse soon.
drewd1987 2 years ago
Everybody is saying that economic collapse is happening but where is it. I see no starving people or homeless, everybody is driving and shopping just like before.
moniequa 2 years ago
read about the great depression, history always repeats itself
ilililhy 2 years ago 2
ok you guys, i got news for you. the real estate market is doing good where there is a real economy and public transportation and safety ect. there are places around the country where the real estate market is doing ok.
tony232cool 2 years ago
if everybodys out of work and everybody loses there job ,nobodys going to be able to make house payments.the banks will own all the houses but all of them will be empty and stripped. and the banks will say we need another bail out obama
ilililhy 2 years ago
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.
I warned you my fellow Christians, THE END IS COMING! Depart now from all form of unrighteousness such as fornication, homosexuality, pornography, watching violent entertainment, drug abuse, smoking, gambling, cursing, bullying, revelries, pursuit of money and idolatry etc. LEST YOU BE FOUND NOT WORTHY TO ENTER THE KINGDOM OF GOD.
A volcano situated in the US will erupt not far from now, when this happen you will know that this warning is from God.
.
conceil8 2 years ago
And another thing now that you got me all fired up. Did'nt YOU read the contract? Lenders ca'nt prosecute if your implying criminal charges. They can access the damages and file a judgement. Regardless, these damages are nothing compared to the economic damages and hardships they have caused. Greedy little #### are lucky the roof is still entact.
Beingreal40 2 years ago
Along with modifications. How are you suppose to modify $300,000 when you only qualified for $70,000. Brokers got paid high commisions for Option Arm loans. It's been proven on other U-tube videos that the lenders lied on applications to sell homes. Now after the trusting families savings is gone after trying to keep up with contract payments. The contract calls them a liar. And the homeowner has no copy of the application. Again, lender are lucky to suffer only a few can of paint.
Beingreal40 2 years ago
Predatory lending is being placed in a loan you had no financial means of ever paying back. A fiduciary obligation from the broker, underwriter, and lender is to ensure you qualify. Yes, no one is forced to sign. But by your comment, your stating you can't sue for anything. Doctor for malpractice. Auto mechanic or contractor for poor workmanship, All businesses have a fiduciary obligation in order to hold a license. I don't blame these people for lashing out if this happen to them.
Beingreal40 2 years ago
Predatory lending. What kind of results were you expecting?
Beingreal40 2 years ago
Same thing happened in Texas in the 1980's during a real estate collapse aka Savings and loan crisis. People vandalised houses regurlarly as well. It wasnt predatory lending then, just a commoditiy recession. People just tear up chit. Basically evil.
enkelin32 2 years ago
I am a property manager here in Dallas. Believe me - when you evict someone they usually destroy the interior just as a means of spite and hate. Disgusting! What a waste. PURE EVIL!
heyannanicole 2 years ago
Im retired from HUD.. I have seen alot of the same thing happen to foreclosers.. We have ALOT of damage done to homes.. AGAIN here is where you Tax Dollars are wasted.. People have been caught damaging property and out Goverment doesn't do anything to them. Believe me I have Seen this.. they give them a pat on the hands and Nothing else. I have even seen ppl take stuff with my eyes and called local police but Again Goverment will NOT press charges agains the thiefs
dallaspolo 2 years ago
You keep kneejerking back to this being the former homeowners who are "upset" that their home was repossessed by the evil mortgage lender.
But clearly the home was broken into and vandalized by drug users. This was no "protest", this was just teens out for a "good time".
I know what a homeowner who was being foreclosed on would actually do, because I saw it happen just across the street from me.....
DFDalton1962 2 years ago
The people who lived across the street bought a 4000 sq ft home and lived in it for 8 years without planting a shrub and didn't even own their own lawnmower. They moved in the middle of the night after stripping the house bare - cabinets, appliances, light fixtures, doors, furnace and air conditioning systems all gone.
There are people who are not meant to own homes and the answer is not to make it easier for irresponsible people to occupy housing they ultimately can't afford to maintain.
DFDalton1962 2 years ago 3
i like ranch dressing
butler22070 2 years ago
lmao
AEVautomatic 2 years ago
The vandalism is almost certainly by a contractor who got got screwed over by the builder and or homeowner or a former home"owner"
No lien will help them now. Whoever did that just snapped. Now imagine this across the country to varying degrees.
CredoVeritas 2 years ago
Now isnt that what was told in the video. Geesh...dont need a parrot now!
DullardGuy 2 years ago
Though they did infer repeatedly that the homeowner themselves might have taken part in the vandalism. They did not focus on the contractors as being the likely source of specifically targeted vandalism.
I should have clarified that a contractor could have been screwed over by the builder directly OR screwed over by by the homeowner directly.
Sorry I made you suffer reading through a freakish, hybrid, dangling participle....my fault.
CredoVeritas 2 years ago
prob ably kids. They have insurance anyway.
AEVautomatic 2 years ago
Ive seen it happen on homes several years old. NOT contractors, they can be prosecuted. The contractor will or should have a mechanics lein just for that reason (not getting paid)
enkelin32 2 years ago
With all due respect. I'm familiar with this field. Contractors have to pay a fee to file a lien. They don't throw good money after bad.
I know contractors personally who have "recalled" their equipment in extreme cases...everything from light fixtures to furnaces and air conditioners, molding, you name it and it's not illegal. Technically i t belongs to the contractor until paid. Some items aren't retrievable such as drywall, paint, etc. Frustration may result and yes, this stuff happens.
CredoVeritas 2 years ago
This house looks like it was lived in at one time. Sorry I dont buy that a contractor would waste paint and take only easily sold recycleable metals. Form now on they need to limit homeownership to hose who can put at least 20 to 30% down. All others need to rent. I paid 50% down on my house 20 years ago. Paid it off in Five. Many people are not responsible enough to own a home.
enkelin32 2 years ago 4
@enkelin32 whoppdy fucken do hot shot.
drummerforreal1 1 year ago
@drummerforreal1 The point is that throughout history to buy a house required a large downpayment. Giving houses away to people who cannot pay for them is what caused this mess. No skin in the game, get it for nothing tear the crap out of it and leave. Oh yeah that is now the American way. Hope you like living in a third world country. When people act like they just walked out of the jungle that is what you will get.
enkelin32 1 year ago
@enkelin32 We're all in this together and Have ALLOWED our gubament to create this NWO takeover. America has turned iinto a bunch of cowardly dumbed down and Prozacked up American Idol watchers. There should be a revolution over this
and the TarP bailouts for the rich. Compare this time to the provincial years of America and all the way up through the sixties!!! Asse would have gotten kicked over way less.
drummerforreal1 1 year ago
@drummerforreal1 That is true. I was there in the 60s. Before Friedmanism took over our goverment and mindset the government was for the people and not for the fascist corporations. We had Unions then that protected people from predatory capilatism and the people also believed in a days work for a days pay. Times have changed and it is "get it all while you can for a little effort as possible" on BOTH sides of the line. We have become a society of parasites from the worker to the boardroom.
enkelin32 1 year ago
@enkelin32 I also put big down payments on the four properties (residential) I've owned. I bought my restauraunt and bar w/cash. The oint is I was lucky enough to be in a small business I started in the 80's. I had a thriving bus for about 13 years.
Small business is almost dead now...No support from Fed ...So do you really blame people for taking advantage of the engineered giveaway house deal?
This is the contrived outcome from the money masters....It's just about game set and match for us.
drummerforreal1 1 year ago
@drummerforreal1 I can see why people in general took the trap, Like mice to cheese. It is human nature to want something for nothing. I have bought several houses starting during the real estate crash in Texas in the 80's. Bought them with little financing and in one case for actuall cash in full, (it was real cheap) mostly at auction. Ive read a lot about this recent credit crisis and mortgage brokers would go into neighborhoods and get elderly to refinance homes they had almost...cont
enkelin32 1 year ago
@enkelin32 Yeah they still are trying to get elderly mortgagors to go for the ripoff reverses!!! AS far as a new 30 year though, that wouldn't even make sense. But does it need to make sense anymore? We're screwed dude.
drummerforreal1 1 year ago
@drummerforreal1 LOL and BTW enkelin is German for grand daughter.
enkelin32 1 year ago
@enkelin32 Yea , The Market Oracle is where I saw the Baltic DRY Index for the first time. I thought man if no ships are moving, that's pretty serious. But anything I needed in life has still been available and plentiful including a new car. Walmart never has a problem being stocked. Nor Sears. Anyway, I got excited..YOu see I want real change...I don't want this slow death crash.. I want it mmediately. I really don';t see any other way to get a new deal shuffle except the FRENCH REVOLUTION way
drummerforreal1 1 year ago
@enkelin32 OH BTW. How did the shipping get jump started anyway , then?
drummerforreal1 1 year ago
@drummerforreal1 with the Nine Trillion dollars that the Fed and Treasury sent to the banks and Aig to pay to their creditors like Deutche Banks and Banco Santander and several other banks over seas as well as goldman sachs. They fixed up the credit system by backfilling the banks balance sheets world wide. The Brits and the Europeans did the same thing with their Quantative Easing. Literally trillions of $ Pounds and Euros going back on the balance sheets to cover the Derivatives (72 Trilli
enkelin32 1 year ago
cont... Trillions) CNBC did a breakdown in Nov '08 on what programs were used to revive the bad banks. Once the banks were reinflated they then resumed issuing letters of credit and the ships started moving again. They could now with reasonable surety believe the bank issuing the letter of credit would not become insolvent and dissapear. BTW those derivatives were mostly on coporate bonds not subprime mortgages. But poor people are a better scapegoat than corps...people accept blaming the
enkelin32 1 year ago
cont... blaming the poor more easily than an amorphous corporation. They can see the poor at the grocery or down the street. Most people cannot identify with a hedge fund manager or bond trader at Bear Sterns. So it is much easier to rail against the welfare queen than a billionaire who is much smarter than oneself. He must be, cuz he now has all your money and sent your job to China.
enkelin32 1 year ago
@enkelin32 He laughs last though. I see desperate people now knowing their bankster and politicians screwed them. They will want revenge!!!! There are many people w/guns and bucou bullets. When they get hungry or thirsty is when all hell will break loose.
drummerforreal1 1 year ago
Yes drummer, I agree that if it gets bad enough that people really suffer enmasse like they did in the 30's or maybe even worse that we might have a "French Revolution" type solution. If you remember that was also driven by huge government debt and foreign policy folly. Only trouble is those kinds of revolutions never turn out good for the people either. I do believe that we have not reached that level yet. I saw that happen where I live in the 80's and people just took it.
enkelin32 1 year ago
cont... There were 200 families living under the river bridge close to my house. People walking away from their homes. Living in car washes. Even the pawn shops put in drive through windows so the rich could pawn their rolexes. I bought a 4/3/2 brick home for 18K. That was the S&L crisis and the collapse of oil prices in Texas. People just lived through it. They should have been marching in the streets. Most are just sheeple, it will have to get to the point of actuall hunger.
enkelin32 1 year ago
@enkelin32 Well, if giant banks will take inflationary dollars to the tune of 9 trill, doesn't that indicate that all the dollar will crashers are full of shit? Makes gold look like wrong play too. Why didn't giant banks demand gold and other precious metals instead of toilet paper green dollars?? See my point?
drummerforreal1 1 year ago
What they got was essentially a replacment of all of the dollars that vanished into thin air when the Derivatives (toxic Assets) plummeted to pennies on the dollar. Remember that those derivatives were what they based their assets on the balance sheets on. When they took the money they went from negative worth to positive again. The world has not been on the gold standard since 1972. The Banks were just happy to still exist. Remember the FIRST to go bust was the French bank Paribas. cont..
enkelin32 1 year ago
Yes all of the dollar crashers are full of doo doo. If you really want to understand what has happened read "The panic of 1907" it was an almost carbon copy of what happened in 2007/8. Then Read "Lords of Finance" To see what the central bankers did wrong to cause the great depression. 2 of the 4 central bankers of the time (20's) chose austerity vs stimulation and started the dominoes falling into the great depression. LOL can you tell I got my BA in History It is my passion.
enkelin32 1 year ago
@drummerforreal1 LOL yeah for Goldman Sachs maybe... Not so much for some others like Lehman brs and Bear Sterns, merril lynch etc. Lots of them thought they were real smart but it blew up in their faces also. What many people dont know is we came very close to living in a Mad Max world. We came close to having a total economic collapse. World shipping almost stopped in 2008 due to lack of credit (no Letters of Credit were being issued.) It was way beyond sub or even prime mortg lending
enkelin32 1 year ago
@enkelin32 You know I got concerned and interested about the Baltic Dri Index back in 2008. Yet the stores were always full of goods? So was that a lie? Or did people not buy merchandise? If so we didn't need ships.. The cars were being shipped .. I remember that they were running out of places to store cars in 2008 and 09.....So something made me suspicious about the BDI reports.
drummerforreal1 1 year ago
@drummerforreal1 I know people who buy raw materials like Crude oil and chemical feedstocks and those ships were not moving. We were having trouble getting shipments in where I work. I do think there is a lag time when it comes to finished food items. If you ordered some items at that time you might get a long delivery. I know some clothes items I ordered were never delivered around then. I would give you the url but YT dosent allow it Ill copy and paste instead read this from cont...
enkelin32 1 year ago
@drummerforreal1 cont...from the Market Oracle. "Credit Crisis Collapse What Happens Next?" The credit crisis is spilling over into the grain industry as international buyers find themselves unable to come up with payment, forcing sellers to shoulder often substantial losses.
"Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don't trust the financial institution.....cont
enkelin32 1 year ago
cont... institution named in the buyer's letter of credit, analysts said.
"'There are all kinds of stuff stacked up on docks right now that can't be shipped because people can't get letters of credit,' said Bill Gary, president of Commodity Information Systems in Oklahoma City. 'The problem is not demand, and it's not supply because we have plenty of supply. It's finding anyone who can come up with the credit to buy.
That is just one article I cam across in 2008 describing what was hap
enkelin32 1 year ago
cont... Happening to world trade. In Henry Paulsons book "On the Brink" He describes not being able to sleep at night because the entire world economy was about to unravel and there wasnt a lot they could do to stop it. The FED and the Treasury pumped over 9 TRILLION dollars into the banking system before the end of 2008. A fact that many people do not realise. The TARP and the stimulus were just a small portion of what was done. Most peeps only listen to the radio, they dont get the truth
enkelin32 1 year ago
@enkelin32 %00 word limit sucks.
It wasn';t acoincidence that the money was released ad infinitum to create the bubble in the first place. I was just lucky enough to buy low and sell in bubbled up quity market. This is how i successfully satisfied all my mortgage accounts.
I can't blame renters from becoming instant owners when the free paper was dangled however. Wouldn't you take it?
drummerforreal1 1 year ago
@drummerforreal1 cont... almost paid off. If you come across "The Two Trillion Dollar Meltdown" read it. You will be amazed at the reasons why that money flowed like water and who was pushing it. or Google "The Global Pool of Money Got too Hungry NPR" and listen to the podcast. It will turn your stomach. It wasnt all about poor people who wanted more than they could afford. The derivatives that sunk the world economy were not only on subprime mortgages, but on all kinds of debt. Bonds et
enkelin32 1 year ago
@enkelin32 I already have a feeling it's the same NWO scumbags..The Rothchilds Rockefeller's soros etc... The same dirty motherfuckers that have been squeezing our balls for tha last two centuries...
drummerforreal1 1 year ago
@drummerforreal LOOK man, The house is going to fall. I'm all for it. I'm one of those , just get it over w/as quick as possible people. I want this lousy game to crash. But I also want tghe affected to grow some fuckeeeeeen balls. I 'm not saying fight in street. More like smart painful to the manipulators and family corrective measures.
drummerforreal1 1 year ago
@enkelin32 My bank tried to screw me with a loan set-up to default. If I hadn't been suspicious, having heard of mortgage fraud, I would have trusted them and signed. Then, with one of the booby traps they wrote into my closing papers, I'd have lost the house and all of my money. I'd have been angry enough to trash the place I fixed up if that had happened.
hannahunney 1 year ago
@hannahunney Yes a few years ago the banks didnt mind if people defaulted, they could just forclose and sell it for even more than before. Today that is not the case with property values falling instead of rising. The Banks used to use their mortgage making to make themselves 20k in fees for each time they resold the house. Then they would sell the mortgage to an investment bank to make into a bond to sell to investors. They made out like bandits all around. Never get an adjustable mortg
enkelin32 1 year ago
@enkelin32 The lack of responsibility is a factor, but mostly, a culture of have now and pay later has been instilled in us Westerners. People always scoff when you tell them that media is a tool for instilling certain behavioral patterns, but it's the truth man. A lot of the homeowners that bought these mortgages were good peeps, but too greedy/lazy to properly understand their package. And the bankers resecuritizing their mortgages didn't help either..
CheeezMaster 1 year ago
@CheeezMaster Yes securitization had a lot to do with these forclosures. I have read where certain mortgage brokers (not banks) would go into neighborhoods to see if they could find elderly people who had just about paid off their mortgages and refinanced them to get equity and a balloon payment after two years. The people trusted these guys since when they were young one could count on financial officers to be honest and very conservative. The joke was on them, they lost their homes.
enkelin32 1 year ago
I've work w/contractors & if it is banked owned the banks want to sell, it so they don't let the contractors back in. The same thing occurs when there is a bankruptcy. In many states most liens are only good for a few months. Within that time the contractor has to litigate -- talk about throwing good money after bad. These homes are in the twilight zone -- poorly built, too expensive and bank owned.
cat1012000 2 years ago
good for them, fk the banks, they shudda burned the place down
we are all slaves to the bank and uncle sam, fk them all
metropool 2 years ago
I know of a similar house in my neibhourhood which got trashed
communitypull 2 years ago
Venusproject dot com
for the world we ALL deserve.
blaziermissy 2 years ago
Actually, Daniel, you're wrong about the homeowner having the right to do "anything they want while they're the homeowner." Most mortgage documents have something called The Covenant of Good Repair" which means that the homeowner is required to keep the home in decent condition. Failure to do so is a breach of the mortgage document and a foreclosable offense. I'm no lawyer - just a former Realtor.
rosethornil 2 years ago
true but its not a crimminal charge and it dosent make any sense to go after them because their credit is already busted
gkipling 2 years ago
The builder put that piece of crap up in 3 or 4 days, and somebody signed away 30 years of their life to pay for it. That's the crime.
dave140c 2 years ago
"The builder put that piece of crap up in 3 or 4 days, and somebody signed away 30 years of their life to pay for it. That's the crime."
Yes, it is a crime for that stupid someone to sign away 30 yrs of his/her life for a pile of woods. That someone should be imprisoned for being stupid and spending money they don't have.
moniequa 2 years ago 2
I dont think anyone twisted their arm or held a gun to their head to sign on the dotted line
enkelin32 2 years ago
Daniel, please!!! Do not make any excuses for these people who "lashed out". As you say, "THERE IS NO REASON FOR THIS".
wonton00 2 years ago
Man, these owners are real Aholes. Put zero down and enter into a loan they knew they couldn't afford and now they're pissed that they're being evicted from "their" house for not paying the mortgage. Hey, I have a good idea, lets ask our government to bail these people out, those poor victims.
wonton00 2 years ago 2
They're not home owners, they're are criminals who committed fraud and vandalism. They'll never be home owners.
moniequa 2 years ago
Amazing..thanks for reporting this..
GreenrushCapital 2 years ago
id take the stove and microwave. and i dont even need em.
yz250thatownsyou 2 years ago
Make housing affordable again and this shit wont happen, houses are still stupidly over priced
damnright4 2 years ago
Don't tell that to the first-time home buyers they think it is a good time to buy. They're buying as we speak.
moniequa 2 years ago
Then they are fools, who will suffer losses imedieatly and for quit a long time to come.
damnright4 2 years ago
I love it when the greedy fools suffer.
moniequa 2 years ago
my next door neighbors destroyed it so bad it took contractors over 2 months to fix it
AntiBullS 2 years ago
Whats going on here? DUH,,
What happened here? DUH?
Its called vandalism,thievery.
Overall good series.
cpgone 2 years ago
i will kill if people did this tom my house
maravilla1992 2 years ago
taking the toilet makes sense, really. A good toilet costs $150 and if you're the only one that's ever used it then why not remove it and to a new place (or sell possibly but.) Really easy to remove a toilet.. usually just 2 bolts and a messy wax seal at the bottom but no big deal.
rasoros 2 years ago
thats america for ya
rianpop 2 years ago
Never mind showing empty buildings.
Why don't you go find the presumably now homeless people who used to live there?
GeorgeGreekTrucker 2 years ago
Here in UK people are being removed from their home that they can not pay for. Some people trash the place, removing plumbing fixtures or even setting fire to the house!
Halboy10 2 years ago
You know whats weird,I was thinking ,why didn't someone call the cops when the place was being trashed,and then I realized,the entire neighborhood is abandoned! Shocking stuff!!!
xXU2BerXx 2 years ago
Looks like all the crackheads are descending on these dwellings and stripping them of anything that's not nailed down......
xXU2BerXx 2 years ago
Amazing Daniel, is this the norm in Southern California right now?
Angelhaven95 2 years ago 2
Yes, I visit foreclosures all through out the southland and the properties are a reck.
visionvictory 2 years ago
Daniel, I can't believe you're lending your credibility to George4Title. A lot of people claim he conned them out of donations. Do you know what he did to Peter Schiff's reputation? Then claimed SChiff was suing him. Withing 48hrs he removed all of Peter Schiff's so called claims and threats. He was pitching for legal defense fund donations. Suddently, after donations, the Peter Schiff problem never happened. Daniel, if you associate with ppl like this, I will unsubscirbe your channel.
iamgabrielf 2 years ago
This what Denver looked like in the 1980s after President Reagan collapsed the alternative energy market on the Western Slope. It took 10 years to sell these homes and get them back into service.Foreclosed and abandoned homes in every block of the city With 12% unemployment in California situation is only going to get worse.
13mns 2 years ago
Lol...4k for a AC unit??
303430 2 years ago
This is great stuff guys. Keep it up.
goldengryph 2 years ago
squatters
TALLMATE73 2 years ago
Although the effort put into vandalising the house is proof that it was likely the previous owners, what does it matter? The point is that this type of damage is likely occurring to foreclosed homes across the nation which will severely damage the property values of the surrounding properties while attracting homeless and vagrants. It's the reality that this real estate bust is actually self-energizing. People in this country are pissed that they lost the sold dream of something for nothing.
Teyec00n 2 years ago
I think it was probably George4title's house. I think he's fallen on some hard times.
cwmillerrn 2 years ago
Wrong the housing market bubble and crash was caused by the Federal Reserve not because of poor people. Listen to how absurd that sounds. Like poor people could crash the national real estate market. You are all a bunch of dumb asses. Thank your corrupt politicians for allowing this to happen. Bush and Obama working hard to kill the American dream and you people help them.
mymojorisin 2 years ago
I didn't say poor people caused the crash so don't apply your suppositions to me. This crashed was caused by both rich and poor abusing a credit bubble that Bush and Greenspan caused. Although, as far as property destruction goes, I do believe that angry and desperate poor people are much more likely to take the time to irreparably damage a property than someone who is well off and would simply move on and consider it a lost investment.
Teyec00n 2 years ago
Oh, but you can't tell people who are mindless consumers that....they fuel the Reserve and the corrupt politicians.
Most of them could give a RATS ASS if our govt is corrupt and our Reserve is a cabal of elitist parasites, they give them respect b/c they have money and power, while they ridicule and kick those that are the truly exploited.
Sad and sickening. Truth is irrelevant, huh?
blaziermissy 2 years ago 2
Great video thank you very much.
sypherffs 2 years ago
You guys better take off some crack head ..gonna come in any minute !!
nambypamby34 2 years ago
depressing
jackinla8 2 years ago
This guy is full of shit. He has no idea who or why that was done and to blame the former owners without any knowledge of who they are is just wrong. This guy is a talking head for the bank or realtors but his agenda is to blame the victim.
mymojorisin 2 years ago 2
Use your brain, fella. It's pretty obvious he's right in his assessment.
JRCrowley 2 years ago
He is assuming that the previous owners of this house destroyed it without any proof. I am using my brain and you seem not to be using your brain. You take his word automatically without questioning what proof he has. That is the same mentality that was used to justify the Iraq war and look how that turned out. I will not take anyones word for anything you must prove it to me. This guy is a realtor, he has an agenda and it is not in the interest of ordinary people.
mymojorisin 2 years ago
You don't seem like you watched the entire video. He is speculating that either the former owners became recentful and trashed their former home or after the home was abandoned the home was trashed by squatters.
He gave the two typical scenarios.
Pay attention in the future
countupir 2 years ago 2
have you seen his videos? he is just speculating, the issue is not who damaged the property, its the fact that this is what is happening all over the country. watch vision victory videos and become aware.
eflowmt 2 years ago
I have seen his videos. He is a slum lord and a racist that preys on the poor. He is your hero so you must be the same way.
mymojorisin 2 years ago
Was he there when the vandalize acts were committed?
DramaticSoul77 2 years ago
Yes, he was there.
JRCrowley 2 years ago
well the thing is he's right. i mean a new home and now the people now have to leave it. and depending on the mind set and the time when they left there home it's easy to think the owners would do this. with the mind set of "u bailed out the bank who gave me this house but they won't help me now let's see if they get any money from this house"
darkisato 2 years ago
Well the thing is he is wrong. You do not have any clue what the people were thinking when they left and you do not even know if they were thrown out. There are a million reasons that house could have reached its current condition. You have no proof at all. Everyone is so fast to blame the victims in this world. Let us look at the real cause of this problem, our dysfunctional government and the Federal Reserve.
mymojorisin 2 years ago
He is clueless on who did it. One minute he said the previous homeowners, the next he said some teens came in an vandalized the place. You can see he want's it to be homeowner. The truth is he doesn't know but wants to assume it was the previous homeowner. Like you said, there are a million reasons why that house reached it's current condition.
DramaticSoul77 2 years ago
Thank you DramaticSoul77. I agree with you 100 percent.
mymojorisin 2 years ago
With the price of copper and other metals on the rise, I'm not suprised by all this urban mining.
mrfunnyman99 2 years ago 2
THE SHELL GAME IS ON:
KIMCO was going to default. BAC owns ML. ML changes from sell to neutral. KIMCO has ML do an equity issue. the equity issues almost exactly matches a loan owing to BAC. Issus is a success! BAC is paid back. KIMCO stock rises (KIM)... what a joke. this is fleecing investors who are blind to the truth. Where is the SEC? going after small timers like Madoff so they can turn a blnd eye to the fraud of ML, BAC and KIMCO
maximumvalues 2 years ago
Homeowners couldn't pay what they signed onto. Blame the lenders all you want, but if they got paid, everyone would be happy. I don't agree with bailouts for banks or reneging borrowers who want free homes!
dmger14 2 years ago
The lenders know the complete credit history and the earnings of each person that applies for a loan. They're the ones that have gone to school for this and have been trained. While I couldn't agree more that people should know what they can afford, the lender ultimately has to approve the loan. That's why their the lender. If the requirement for getting a loan was a little higher than having a pulse, the housing crash wouldn't be happening.
catscradle72 2 years ago
Your are absolute correct....however we were operating in a false "free market". FNMA and FDMAC held 40% of the total secondary market. The secondary market is where most of these loans are purchased. The secondary market is made up of either private investors or FNMA and FMAC. The latter two are what are known as GSE's (Government Sponsored Enterprises). These two "companies" losses were backed by the US taxpayer. They were able to take abnormal risk without asking for appropriate compensation.
mayt7 2 years ago
The appropriate compensation for "lair" loans or for sub-prime loans, is not .75%...however, that was the risk premium assigned to most loans. These lending practices along with "cheap money" from the Fed Reserve caused massive real estate speculation, this caused other investors to jump in on what seemed like a can't lose prospect, because of escalating real estate values. There was also much coercion by the government to force banks to take on riskier loans through the CRA.
mayt7 2 years ago
Read "Meltdown" by Thomas E. Woods Jr., you will gain enourmous perspective on this economic collapse and what caused it.
mayt7 2 years ago
I could understand why people are upset.
Banking criminals just ripped off their homes, jobs and taxes to cover their losses.
freedomfighterone 2 years ago
The only people hurt are your former neighbors, folks! The banksters are still in their multi-million dollar mansions getting our bailout money while your poor neighbors have to deal with that eye sore and the criminals it attracts!!! Please think about the consequences before you act!! Write to your Congressmen, stage a peaceful sit in, organize a protest in front of the banksters' homes. Don't screw your neighbors!!
vlr1230 2 years ago
The truth can't be denied in video! I live in E. PA. and the commercial/residential real estate declne isn't nearly as pronoucecd as in S.Cal.Thank you to both you and george4title for being the Lighthouse!
Edgarasmith 2 years ago
thx for the comments
visionvictory 2 years ago
you won't find this on the news that's fo sure. they too busy telling everybody the recession is over, and buy buy buy!
-Todd
ToddWentworth 2 years ago
HEHEHEHE!!!
man it's a sad video why you gotta crack me up Damien?
-Todd
ToddWentworth 2 years ago
DOW want up triple digit cause Wells Fargo projected Thursday a "record" three-billion-dollar profit in the first quarter.
shirke01 2 years ago
Report is likely Nonsense.
How could they make the profit in JAN,FEB, and MARCH 2009?
shirke01 2 years ago
Beware of false profits.
Wells fargo still counts all of their 2nd mortgages as assets. When in reality they are worthless.
visionvictory 2 years ago
"Beware of false profits."
Absolutely bang on! Material profit is a complete & utter illusion & can only be made @ the expense of another. Profit is an accumil@ion & possession of m@ter, subTlet¥ different from an 'increase' in m@ter ; th@'s the hoax. Any m@ter can only be converted, not increased. Any energy lost in conversion is not actually lost, but 'disappears' to an inner space quantum level th@ could incorpor@e the spiritual realm. Hence the only 'true profit' 2be made is...
cont...
ELGROOVER 2 years ago
..cont.
...in the s@isfaction & pleasure had in the work of converting the m@ter. Just an idea...
The 'annotation' links @ the start don't seem 2work btw - I wonder if the banksters are able 2claim 'government compensation' 4this apparent vandalism? If so, I wouldn't be surprised if the banksters themselves were destroying the properties & claiming well above actual costs!? They are in the buSINess of extortion, destruction AND robbery, AFTER ALL!! Wells Fargo & Co. are flogging a dead horse.
ELGROOVER 2 years ago