Loan Mods not working?? I may have the answer!

It's strange how you have the Goverment allowing lenders to "modify" borrowers loans into payments that they can afford in an effort to boost the industry all the while to prevent foreclosures/short sales from occuring. Yet, less than 10% of all Loan Modifications actually get approved. WHY IS THAT? You won't believe the sweetheart deal that the Indymac boys were given by the FDIC. It may make you very angry to realize the truth. Share this video with everyone that you know. Let everyone know where the REAL problems lie.

Category:

News & Politics

Tags:

• Loan
• Modification
• IndyMac
• Bank
• FDIC

[speedspeed121]

So, this video is very misleading. Basic example: Indy had a mortgage portfolio with a book value of 100M. Obviously nobody wanted to buy that from the FDIC for that, so the best bid was at 50M. If the One West investors bought the full 250 loans, that would make each loan worth 200k. If One West allows a short sale of 150k, they lost 50k... so the FDIC comps them. The original 400k is completely irrelevant to this, because thats not what One West paid, and its not what its worth.

[huckrorick]

I have noticed that not only are lenders reluctant to make loan modifications but they also seem reluctant to approve short sales. This video would seem to have the banks encouraged to make short sales. I wonder if anyone knows why they would prefer foreclosure? I have seen more than one case where the banks have turned down a short sale that is higher than what they sold the property for in foreclosure.

[rfowens]

It's even worse than described in the video here. Thanks to fractional reserve banking, Indy Mac (or whatever bank that is carrying the mortgage on their books) was never "on the hook" for the original principle of the loan. Banks just make ledger entries when they make loans. It's not like they're loaning out depositor's savings when they make loans, contrary to what most people think. The $75K promissory note to settle a paper loss is pure theft.

[ANYSIA000]

You can get on the biggest lawauit against the banks in the counrty go to icansuemylender. com or call 1-866-967-9993 to be apart of this lawsuit and sue your lender!!! They can also delay your foreclosure!

[GIMMESHELTER50]

I HOPE ALL THOSE FILTHY GREEDY WORTHLESS MOTHER F*CKERS BURN IN HELL!

[bicnarok]

3.22 haha that looked well faked.

[mamaserene]

MuthaF#ckers..IndyMac WAS my "mortgage owner", now it's OneWest..JUST forwarded this to my attorney regarding the notice on my front door, AND sharing far and wide on Myspazz!!!

This REALLY sucks, the richest of the rich are knocking the middle class into the dirt (streets/poverty) and making MONEY on the suffering in the process!!!!!!

[staaberelli]

Not sure how you know this?

[TheLIGHTinMYwindow]

Thanks for the VID!

How much longer will they get away with it?



[kitten0puppy]

penis

[beachnative420]

Why bring up the Paulsen relationship? There wasn't any they why bring it up? It's completely irrelevant and if your video is correct why do this? The rest of it make smy blood boil!

[psears1946]

Interesting that when you try to contact the link you need to be a "broker" or "lender" and you have to contact them directly to be allowed to view the information. Is there an honest government official anymore? Guess it's now survival of the "crooked."