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Loan Mods or white noise?

 

I first was presented with this information in a two hour presentation by a totally different source.

 

It is a real eye opener of the level of deception being fed to us.

 

The attached video talks about just one of the 'Sweetheart' deals the FDIC has made.  It has similar deals with over 52 banks.

 

So all the talk about Loan Mods......Window Dressing.

 

According to DSNews, which by the way has no article about the back door deals being made, but does have several articles on different institutions buying up defaulted loans......gee I wonder why.

 

http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1006278

 

After you have watched this, do some Google work and see what you think.

 

I would love to hear your thoughts!

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Not surprising, even if we as taxpayers are not funding the FDIC stuff, it is always about big profit. That is how we all got in this mess.
To me the bottom line is the deception to the American public in leading them down the path of HOPE for modifying their existing loan, then after it is too late to even start the short sale process (which is still a money maker for the bank) the homeowner gets foreclosed on.

The news media is being fed all this 'feel good' talk about how Loan Mods are going to help people, when instead it is a tool of distraction so the Mr and Mrs Homeowner run out of time.

When it comes to profit or not, the banks will always head in the profit direction. There is no monitory motivation for banks to do Loan Mods.
I agree. Loan Mods are screwing things up big time. There are people who run out of time for short sales because they've either waited too long to try for a loan mod or they don't want to "give up" and keep trying.
This is correct. Mr & Mrs. Homeowner believe what the media is telling them that the Government wants to help them stay in their home, when the opposite is actually true.
Maybe some branches of the Government DO want this, but the boys over in the Treasury, FDIC and banking regulations depts. are going full tilt in the other direction with their buddies.
Some of our Government should hang their head in shame at the scam they are pulling on the American public.
Then there are the homeowners who realize what is going on and that recovery is NOT on the horizon. The increase in Strategic Defaults is growing. They are realizing you can repair your credit in 2 - 4 years from short sale or foreclosure and get back in the real estate game much sooner than if you wait out market recovery for your underwater home.
The TBWS video has been updated again with new information uploads of actual ARTICLES and DOCUMENTS backing their FACTS.

Articles from the WSJ and the NY Times.
AND
The actual IndyMac Shared Loss Agreement
The IndyMac Master Purchase Agreement
The IndyMac Loan Sale Agrmt

Plus a new article today, 02/20/10, from the NY Times found in an Active Rain blog:

"OneWest Bank Profit: $1.6 Billion"

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