Orange County

[Groundhog]

Here is an interesting bit from MSN MONEY today...................

http://money.msn.com/home-loans/news.aspx?feed=BLOOM&date=20120207&id=14764384

I find this very curious, considering the DECIDEDLY NOT-MAGNANIMOUS nature of THE BANKSTER GANGSTERS.

Apparently, IMHO, THE BANKSTERS FEAR THEIR FORECLOSURE SCHEME  is now becoming more costly to them than they originally thought.

Or perhaps they fear to face the potential legal repercussions of their misdeeds, hoping thus to encourage a less aggressive GOVERNMENTAL PURSUIT in future criminal prosecutions of BANKSTER evil doers?

Perhaps those very INSIDER BANKSTERS know THE REAL DEPTH OF THE SHADOW INVENTORY, and thus fear accordingly?

Who knows what lurks?........THE SHADOW DO! ..........But of course that doesn't include INSIDER IVY SHILL, for she is a paragon of impeccable credentials and a virtuous economic fortune teller for the good of all.

Groundhog opinion,

OGR

[digo]

Well it looks like a win-win situation for banks and non-paying owners...allows everyone to move on. Still, it just doesn't seem quite right.

I wonder how the banks decide who will get the incentives? Reminds me of a song   Money for Nothing  ..........

[BobPhillips-RE]

Digo asked:  "I wonder how the banks decide who will get the incentives?"

I'll give you a big hint.  The primary lenders now offering "incentives" on SOME of their loans ( Not a high percentage.) obtained those loans for pennies on the dollar, by "taking over" failed banks a few years ago.

Wells Fargo took over Wachovia, ( Who had taken over World.)  B of A took over Countrywide, and Chase took over WaMu.

In every case, even by giving away seemingly large "incentives", they are still making GIGANTIC profits, on THOSE loans.

If a distressed homeowner is still sitting on one of those older ( 2004-2007.) loans originated by the defunct banks, they should contact the new lender, to see about getting one of these deals. ( They have probably already been approached by the new lender, but - as is the case with many distressed sellers - they might not be opening mail from the bank.  In this case, they really should.)

[Groundhog]

Bob said.............In every case, even by giving away seemingly large "incentives", they are still making GIGANTIC profits, on THOSE loans.

Groundhog sez.................Good post Bob. You are absolutely correct, this circumstance is described somewhat BTW within the text of the article from the original post.

I would take this opportunity to comment accordingly..............therein lies the tragedy of it all. The Bankster Gangster system that our middle class relies upon for a fair deal is sooo well defined by these kind of conditions.

They are making hugely disproportionate profits from riding upon the backs of The Sheeple. This with the assistance of our Federal Government because they are TBTF.

It just ain't right, IMHO.

Groundhog opinion,

OGR