It seem to me that [EMAIL PROTECTED] wrote: >> the guilty parties are not being investigated or punished >> > > Actually that's not the case. Many subprime lenders have bitten the dust > already. Much of their business was based on the idea of selling the loan to > the sucker, then selling the paper to investors. Eventually the investors > caught on that the loans weren't so good, so they stopped buying them. Now > there are many finiancial institutions with questionable loans who are going > to take a bath on them even if they foreclose. Consider a 100% loan placed a > year and a half ago on a house that is now worth no more than 90%. Selling > it as a foreclosure, the bank can't even get the 90% of it's value, then > there is about $40K in other expenses tacked on when you get the lawyers > involved. > > They made their beds... >
It seem to me that they ought to be making their beds in the federal penitentiary. I've had my house paid off free and clear for many years now, so I wasn't directly hurt by the housing mess, but my retirement portfolio contained stock in some good investment companies that took a bath over this mess, so I did wind up paying indirect to keep the false housing boom and economy going. Regards, LelandJ > -- > Larry Miller > > --- StripMime Report -- processed MIME parts --- > multipart/mixed > multipart/alternative > text/plain (text body -- kept) > text/html > message/rfc822 > --- > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
