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Unfair Mortgage plan
- Thread starter millionaire7
- Start date
http://online.wsj.com/article/SB123491755140004565.html
Lee County judges say they are trying to screen for cases that would benefit from mediation, but Chief Judge G. Keith Cary opposes making such a requirement. "A guy hasn't paid his mortgage in over a year,'' says Judge Cary. "What's there to talk about?"
Lee County judges say they are trying to screen for cases that would benefit from mediation, but Chief Judge G. Keith Cary opposes making such a requirement. "A guy hasn't paid his mortgage in over a year,'' says Judge Cary. "What's there to talk about?"
That's about how it should be done... I'd love to see the looks on the freeloaders' faces who had thought they might scam the judge.
2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge
2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge
Quote from Mvic:
http://online.wsj.com/article/SB123491755140004565.html
Lee County judges say they are trying to screen for cases that would benefit from mediation, but Chief Judge G. Keith Cary opposes making such a requirement. "A guy hasn't paid his mortgage in over a year,'' says Judge Cary. "What's there to talk about?"
I know in FL there is a building condo that was built 2005 and sold out in 2006. Strangely no one from the building paid any mortgage. Not a single payment. Still there is no foreclosure. All the people in the building have been living there without paying anything for two years.
Quote from pepper_john:
I know in FL there is a building condo that was built 2005 and sold out in 2006. Strangely no one from the building paid any mortgage. Not a single payment. Still there is no foreclosure. All the people in the building have been living there without paying anything for two years.
You are joking right?
Quote from millionaire7:
Former Marine facing foreclosure, but do you really want to bail him out?
Jeff Gray is a nice guy. Heâs a 45 year old father of three, a husband to a school teacher and a former Marine. He is also self-admittedly financially inept and very-near being kicked out of his suburban Maryland home. He is literally begging for help not to be foreclosed on. But when you hear his short financial history, you may come to the same conclusion that J.P. Morgan Chase has come to: Jeff Gray can not keep his home.
I sat in his living room a few weeks back and went through his mortgage papers and could not believe what I was reading. In 2005, Jeff Gray filed a tax return indicating he and his wife had a combined income of $7,900 a year. In December of that same year the couple refinanced their three bedroom home for $347,000. It would take four months of his salary to pay for just one month of his mortgage.
When I asked him how anyone ever approved this loan, he told me to look at the loan papers that he says were filled out by a fast talking mortgage broker. The loan form indicated Jeff and his wife were making more than $13,000 a month!
âWait a minuteâ, I said âYour income was $7-thousand-900 a year and they inflated it on the paperwork to $13,000-a-month, and somehow they loaned you $347,000?â
âYep.â
âJeff, I have to ask you did that make sense to you at the time?â
âWell Drew, when I went back and looked at it, like I said we were signing deeds we were getting them real fast, and we didnât know. We didnât pay any attention to it.â
Jeff Gray has not made a mortgage payment, he says, in four years. He has been living rent free, unable to pay that $2,700-a-month for even one month. Now he wants help.
There are a lot of reasons we have gotten into this housing mess. Whoever it was who wrote this loan, approved this loan and sold this loan should, in my view, be held responsible for it. But that also includes the person who applied for the loan, signed for the loan and then couldnât pay the loan.
Jeff Gray told me he feels he was swindled, caught up in a swirl of paper work flying at him at closing. And it is true he is being kicked out while the banks are being bailed out. But there is no fine print about the loan papers I saw. They clearly stated his first mortgage payment would be $2,700 dollars and he knew he couldnât afford it.
http://ac360.blogs.cnn.com/2009/02/...osure-but-do-you-really-want-to-bail-him-out/
this is far clsoer to 'par for the course' than people believe. if anyone believes this guy was snowed by a 'fast talking' banker and is a victim well... you're a perfect Obama supporter. what subject does he teach' how to cheat, live on the dole and play victim'. of course, there's a good sized cross section of this country who have obviously taken his course!
fuck 'em. should have been kicked out about 3 1/2 years ago. it's called a liar loan- HE'S the liar.
the only salvation is that my trading has been so horrific lately that i'm not contributing any tax dollars to this fleecing. too bad my house is paid off. if not, i'd qualify to suck the well dry too.
the founding fathers are turning in their graves.
Quote from millionaire7:
what happens to the broker ?
When I asked him how anyone ever approved this loan, he told me to look at the loan papers that he says were filled out by a fast talking mortgage broker. The loan form indicated Jeff and his wife were making more than $13,000 a month!
âWait a minuteâ, I said âYour income was $7-thousand-900 a year and they inflated it on the paperwork to $13,000-a-month, and somehow they loaned you $347,000?â
what happens to the broker ?