Housing Depression: The Truth Behind the Statistics Part 1/5

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Special Housing Depression update with George4title and VisionVictory.

Part 2 will be posted on Friday April 10th at youtube.com/george4title

Part 3 will be posted on Sunday April 12th on the VisionVictory Channel

TBA Part 4 & 5

Category:

News & Politics

Tags:

• Shocking
• Foreclosure
• foreclosures
• Housing
• prices
• arm
• reset
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• Home
• sales
• Realtors
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[diveplane]

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.

[moniequa]

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.

[TheTim123456789]

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.

[GHDC175]

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]

cash for clunkers!!!

[handiest1]

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.

[GameOver1260]

Scene from Sopranos, "Lay down and die like a good boy," Mr. Home Buyer.

[enkelin32]

@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.

[CheeezMaster]

@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]

that's so sad to see man.

[24Abstract]

I don't blame anyone trashing their own house and being forced to move.

[enkelin32]

@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