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I must admit it is rare to see a poster so demonsrtably wrong on some many points yet not admit it. It is an interesting pathology. I suspect we will next be told the sun revolves around the earth.
No... but the Teabaggers will tell you that the earth is only 5000 years old...
Any middle class American who defends the Republican Party is setting themselves up for a letdown and betrayal...
Faced with certain defeat in the November and 2012 presidential elections, the democrats are trying every means possible to persuade the American people to buy into four more years of high unemployment, low wages, sprialing debt, and a confused foriegn policy.
Rather than wanting prosperity for Americans, the dems simply want "thier" members in power, regardless of outcomes.
Faced with certain defeat in the November and 2012 presidential elections, the democrats are trying every means possible to persuade the American people to buy into four more years of high unemployment, low wages, sprialing debt, and a confused foriegn policy.
Rather than wanting prosperity for Americans, the dems simply want "thier" members in power, regardless of outcomes.
It is truely pathetic.
You're joking right?... explain your Republican Utopia if the Republicans have their way... Higher wages?... fully paid debt?... Prosperity?...
You're joking right?... explain your Republican Utopia if the Republicans have their way... Higher wages?... fully paid debt?... Prosperity?...
I see you have taken not one, but several gulps of the kool-aid.
How do we restore prosperity?
1. Cut taxes
2. Cut spending
3. Cut corporate taxes
4. repeal Obamacare
5. reduce government regulation
6. defang the EPA
7. enforce the borders
As you have never owned a buisness and have never employed people, these concepts are alien to you. When you grow up and become responsible, it will be more clear to you.
They'd rather absorb the rest of the loan... which wasn 't going to get paid anyway... and grab the property cheap...
so let me get this straight
a bank (or another financial institution) would want to ABSORB the costs of a 100% loan , loaned out at overpriced, so they can SELL it (that's what a foreclosure auction is) at a low price
They'd rather absorb the rest of the loan... which wasn 't going to get paid anyway... and grab the property cheap...
Let's go over this again since you clearly don't get it.
Home is for sale for 300K- full reasonable current market value
Buyer applies for 100% LTV mortgage and is approved
Buyer closes on the property, bank cuts check for 300K to seller
Buyer defaults
Bank forecloses
Don't forget they paid the seller 300K. This is real money the seller received from the bank. It's not Monoploly money or a shell game. The bank now owns the property for the full market value purchase price and has to spend money to auction it off. In this market the property value is very likely declined and is now lower than the 300K that the bank paid to the seller. Again- please explain how the bank had grabbed the property cheap. Maybe you can find another google video.......
Let's go over this again since you clearly don't get it.
Home is for sale for 300K- full reasonable current market value
Buyer applies for 100% LTV mortgage and is approved
Buyer closes on the property, bank cuts check for 300K to seller
Buyer defaults
Bank forecloses
Don't forget they paid the seller 300K. This is real money the seller received from the bank. It's not Monoploly money or a shell game. The bank now owns the property for the full market value purchase price and has to spend money to auction it off. In this market the property value is very likely declined and is now lower than the 300K that the bank paid to the seller. Again- please explain how the bank had grabbed the property cheap. Maybe you can find another google video.......
Sadly, liberals really believe such things. You can explain things very clearly to liberals, yet due to irrational emotions, they will not be able to understand simple facts and economics. It is quite hopeless to discuss reality with liberals, as they live in a fantasy land.
Sadly, liberals really believe such things. You can explain things very clearly to liberals, yet due to irrational emotions, they will not be able to understand simple facts and economics. It is quite hopeless to discuss reality with liberals, as they live in a fantasy land.
I've seen this type many times. You can provide endless factual data and they'll never admit they're wrong. They either abandon the thread and move on or keep on parroting their false talking points over and over again until the other person gets tired of their idiocy and moves on.
a bank (or another financial institution) would want to ABSORB the costs of a 100% loan , loaned out at overpriced, so they can SELL it (that's what a foreclosure auction is) at a low price
ok, and you've been smoking what???
No... grab the property and hold it until the next upswing... it's flipping basically...
No... grab the property and hold it until the next upswing... it's flipping basically...
oh, I get it
grab it it 300k. hold on to it while it goes below 200k, while your holding pay the TAXES (my yearly property taxes are 12k ) and wait for an up swing when we still havent bottomed out
sure that makes sense......
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