Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Same difference. You bought homes from people who were forced out of them.
Everyone who could not make their payments got their homes taken away.
Which caused the bubble to burst.
no it didn't. defaults began after TARP and were triggered by payment resets in adjustable rate mortgages. It was like a mortgage bomb was set and set to explode at a pre determined moment, just before Obama's presidency. Or just at the end of Bush's second term.
The current regime benefits from having the as many citizens of this country as long possible flat on their backs as much as possible.
Same difference. You bought homes from people who were forced out of them.
Everyone who could not make their payments got their homes taken away.
Which caused the bubble to burst.
no it didn't. defaults began after TARP and were triggered by payment resets in adjustable rate mortgages. It was like a mortgage bomb was set and set to explode at a pre determined moment, just before Obama's presidency. Or just at the end of Bush's second term.
TARP was an effect, or an attempted solution. Not a cause.
An avalanche of delinquent loans and foreclosures caused it, rendering MBS to be worthless.
No worthless MBS, no TARP.
A seller is forcibly removed from their home.
Once again you are simply repeating something that isn't true. The seller has not been forced out of the property. No matter how many times you repeat this lie, it will continue to be a lie.
His credit is trashed.
Not as badly as it would be in a foreclosure. In any case, taking the hit to your credit rather than staying underwater makes financial sense. The same is true with many foreclosures where people simply walk away from their mortgages.
The bank takes a loss.
Only relative to the unsustainable mortgage. They know they are getting abetter deal than foreclosure. That's why they do it.
You're pimping misery.
Whatever. I'm getting richer. Gonna close on another three decker next month.
Banks don't negotiate short sales for borrowers who are willing and able to their mortgage obligations.
If you truly understood what you just said, you'd know how idiotic you are being. The short sale price isn't negotiated with the buyer. It's negotiated with the seller! The bank and the seller act in their own best interests. Capitalism at work.