Foreclosures on People Who Never Missed a Payment

Yves Smith: Mortgage service industry makes more money from foreclosures than restructuring debt.

By | 2013-08-26T19:21:01+00:00 August 26th, 2013|Mortgages Home Loans Interest Rate|25 Comments

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  1. ytgv3fc7 August 27, 2013 at 7:12 AM - Reply

    I have indeed had a thugocracy tell me “take that money” – it’s called a legal tender law – it makes it “illegal” for me to refuse cash and demand something else in payment. it’s the law and you go to jail and court for trying anything else. IT’S THE THUGOCRACY LAW. I can’t say “only gold is money in this business place” by law. EVERYONE ELSE has had the gun put to their head – it’s ILLEGAL. YOUR LIES FOOL NO ONE.

  2. Pygar2 August 27, 2013 at 6:17 AM - Reply

    “since barter is VERY good for modern life and I use it all the time, it will continue to work.”/ “I have indeed had a thugocracy tell me “take that money” – it’s called a legal tender law – it makes it “illegal” for me to refuse cash and demand something else in payment. it’s the law and you go to jail and court for trying anything else”

    Make up your mind. First you agree with me, then call me a liar for saying what you just said.

  3. Pygar2 August 27, 2013 at 5:20 AM - Reply

    Gee, and all that time all those people in Siberia were volunteers? Who would have known…

  4. Pygar2 August 27, 2013 at 4:46 AM - Reply

    Theft? Like confiscation of stuff that doesn’t belong to you? Are you advocating theft or against it? If you are for theft, you can stop griping about things you think are theft. If you are against it, stop pretending it is OK for you and your neighbors to do it.

  5. Pygar2 August 27, 2013 at 4:25 AM - Reply

    Respond to this video… “Punish success”? Who would bother getting up in the morning to go to work (for example) importing coffee and oranges, if they will earn precisely as much vegging out in front of the TV?

    Greed actually *is* good. Greed actually *does* work. Profit makes the world go round. Even Marx’ own wife admitted he should have been earning capital instead of writing about it. And I bet he didn’t give his book away for the price of the ream of paper, either.

  6. MissTia777 August 27, 2013 at 4:21 AM - Reply

    Greed is good? In the eyes of WHO??? Greed leads to theft and loss and consequences! Are a money worshipping lunatic from Enron, World Com, or Health sport and STILL didn’t learn your lesson? Are you Bernie Madoff’s apprentice?

  7. Pygar2 August 27, 2013 at 4:12 AM - Reply

    I guess you stopped reading my post at that point, or you would not have bothered. From greed, progress. From being a couch potato, no progress. The pursuit of profit keeps people on the ball. It is possible to do wrong things in the pursuit of profit, especially if government makes legit profit harder to make. But that doesn’t have anything to do with the masses of people who strive to get ahead, and deserve the profit they earned. As well as the right to do with it as they please.

  8. DrJarred Wesley August 27, 2013 at 3:15 AM - Reply


  9. ytgv3fc7 August 27, 2013 at 2:57 AM - Reply

    Greed does NOT WORK, does no work, has never worked, produces nothing. Greed is fundamentally taking with no work. period.
    Profit does NOT MAKE THE WORLD GO ROUND. IT RAPES PEOPLE. Loss & avoidance of loss is not the inverse of profit; this loss mechanism feedback is what drives evolution & makes the world go round. Your THEFT MARKET is stealing MY TANGIBLE THINGS, STEALING MY ENERGY to feed itself using FRAUD. Guns will fix that. Guns it is

  10. ytgv3fc7 August 27, 2013 at 2:47 AM - Reply

    ht tp://w w w.winknews.c om/Local-Florida/2011-06-03/Tables-Turn-Deputies-and-movers-show-up-at-bank-to-seize-property-for-homeowner-#ixzz1OP0TVDeR
    Bank of America FORECLOSED ON! Assets seized after fake foreclosure in court is defeated & HOME OWNER FIGHTS BACK AND WINS

  11. Pygar2 August 27, 2013 at 2:02 AM - Reply

    So if your neighbors decided to steal your car, sell it, and pocket the money, that would be OK since “everyone decides”, not the person with actual earned authority over the car (you)?

    Greed, the driving force behind innovation and hard work, is a necessary as air to the future of humanity. It’s how people improve their lot.

    The basic fallacy of socialism is the bizarre notion that people will strive for rewards they know will be stolen by the government, for distribution to couch potatoes.

  12. latishamelvin522 August 27, 2013 at 2:02 AM - Reply

    local jobs (- -)

  13. ferdinandelliot313 August 27, 2013 at 1:31 AM - Reply

    jobs now …… ready to hire now

  14. juanalugo351 August 27, 2013 at 12:48 AM - Reply

    online jobs right now careerstartnow .info need to hire this week

  15. Mark Campbell August 27, 2013 at 12:18 AM - Reply

    Just before 3:36 she likens it to a doomsday machine. A bad choice of words or a message more to come?

  16. Mark Campbell August 27, 2013 at 12:15 AM - Reply

    At 6:16 she answers why pushing for foreclosures?
    Go to IRS gov and find 1099-c form. now if I’m following this correctly if it goes into foreclosure, the borrower will or should receive a 1099-c and which the IRS says you must report on your tax return as other income, means by suggesting it income, someone got the cash, I sure didn’t.

  17. Mark Campbell August 26, 2013 at 11:50 PM - Reply

    I just saying, if it’s income then where’s the income cash? The house? No? But they took the house too, and left you with the income tax of cash you don’t have nor did you earn it by known means.

  18. Mihail Viteazu August 26, 2013 at 11:04 PM - Reply

    The world revolution which we will experience will be exclusively our affair and will rest in our hands. This revolution will tighten the Jewish domination over all other people.
    Le Peuple Juif,February 8,1919
    We have exterminated the property owners in Russia.We are going to do the same thing in Europe and America.
    The Jew, December 1925,Zinobit
    Their plan for you,,read this book for free..WHO IS ESAU-EDOM–Scribd

  19. Mark Campbell August 26, 2013 at 10:57 PM - Reply

    10:28 Keep the borrow in the house paying caretaker fees. Remember the rule of Law is contract. 1871 act Territories to states.

  20. meryl stoic August 26, 2013 at 10:00 PM - Reply

    Greed actually is good under CRIMINAL Acts????

  21. meryl stoic August 26, 2013 at 9:51 PM - Reply

    are you a sociopath???

  22. Rob Reiken August 26, 2013 at 9:12 PM - Reply

    Just the ussual scumbag government , there is no bigger criminal enterprise than the government & their greedy parasite corporations.

  23. thejudgehasjudged August 26, 2013 at 8:18 PM - Reply

    We call this fraud in Britain, and it’s an offence :-/

  24. dar1toknow August 26, 2013 at 7:59 PM - Reply

    The same thing credit card companies were doing. Hold you payment until a late fee can be allied then charge you a late fee again. That’s why I don’t do credit unless I can walk in and make a payment.

  25. Feriin August 26, 2013 at 7:26 PM - Reply

    It’s fraud here in the States as well. The sad thing here is most people do not realize it.

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