Homeowners were not responsible for the inflated appraisals. Homeowners were not responsible for the relaxed underwriting patented software programs. Homeowners were not responsible for the over-rated bonds. Yet, homeowners can’t buy get modifications or even buy back their homes for the pennies on the dollar the government and the banks are selling them for. Why do you think that is?
Is there only one way to get rid of dirty paper? Scorched earth tactics. Dirty politics and worldwide corruption. May God be the revenge.
This is a definitely a nightmare. The Dodd-Frank bill is not strengthen to include hedge funds into mortgage guidelines. Banks and non-banks are held accountable for their actions on mortgages. Now add hedge funds to the list.
Seven years after the real estate market crashed, major investors are again buying mortgages by the thousands. This time, they are buying from the government — at a significant discount.
Emilie Udell for the Center for Public Integrity
Julius Uwansc was in trouble with his mortgage after refinancing in 2009, just after the real estate bubble popped. Like millions of others, he found himself owing more on his house than it was worth.
The Nigerian-born father of four moved into his house on Richardson Road in Gwynn Oak, Maryland, in 2005. “We loved it because it has this big yard where the kids can play,” Uwansc says.
But soon after closing on the…
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