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Published on Mar 24, 2009
The U.S. Government plans to sell toxic mortgages to banks, hedge funds and others waiting to see if they are going to be held criminally liable for what they've done to the economy, and to guarantee them against loss. What this means for a homeowner who cant pay his mortgage (whose mortgage therefore is a toxic mortgage probably being offered for sale to these toxic vultures) is that they dont make any money unless they get it from you and/or your property. This means to me that there is going to be a wave of mortgage foreclosure proceedings that will devaste American homeowners but at the same time bring untold additional riches to the toxic investor-vultures. This video gives you some specific dollar amounts for an assumed homeowner with an outstanding principal amount of $100,000 and arrears in payment of two years.