mr_subprime

U.S. Government Paying Homeowners to 'Walk Away'

Phoenix, you forgot something. They were paid when they sold the note forward, plus the fees and commissions. They were paid AGAIN by the Credit Default Swap insurer when the loan defaulted, and then they got paid A THIRD TIME with the TARP money. Conspiracy? You betcha! When you structure a trust with 1000 prime loans overlying 3200 subprime loans, of which 40% resulted in default, bankruptcy, foreclosed, and "RealEstateOwned", all only 2 1/2 years into the life cycle of the 30-year MBS structure, THIS WAS NO ACCIDENT!!! This is indeed a conspiracy to grab as much of this country's real estate and force as many citizens into bankruptcy and submission as they can. It started with Clinton (Gramm, Leach, Bliley Act) but the whole of Congress is enslaved to the American Bankers Association and the Mortgage Bankers Association. If you can make everyone poor and homeless, they become dependent on the government for EVERYTHING!! That's the plan! Remember it! And you homeowners out there? START FIGHTING BACK!!!