We need similar laws passed in every state.
Even on short sales banks make money. Between fees and interest banks make a fortune. If they do a mortgage for $250,000 and over the life of the loan expect back $600,000, when they sell for $220,000 they count that as a $350,000 loss.
Whereas they may have already been paid $100,000 in interest and fees and now that are getting that plus $220,000. In reality they made $70,000 not lost $350,000.
An effort to prop property taxes wrongfully high. There are probably also many illegal efforts around the country to fake sales, etc., for the purpose of keeping property taxes high. If too few are investigating, they’re probably getting away with most of it.
“Boomerang Foreclosures” Are Back As Bernanke’s Second Housing Bubble Begins To Pop
http://freerepublic.com/focus/f-chat/2988544/posts
Does that mean we can now live in free housing?
I wonder if we can also force the bamks to pay our utility’s,
that would be great, and really i think they could at least help with my grocery bill.
After all i am poor because of them, the thieves, i had $10.00 in the bank one time and needed $15.00 to take my girl friend out so i wrote a check and the s.o.b.s give me a bunch crap just over a measly five dollars, they owe me.
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