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The biggest thieves are the banks.

Posted by JK (the other JK) on June 02, 2009 at 5:01 PM

In Reply to: Owners in Default Stealing from the Banks posted by Dawn on June 02, 2009 at 4:21 PM

: You know what really disappoints me is the fact that so many
: Trust Deed holders are collecting rents from innocent tenants
: and pocketing the money and not paying one penny to the banks.
: What a crock! That is nothing short of stealing. How can they
: sleep at night knowing that they are hurting the American
: tax payer?! Here they are collecting Thousands $$$$ in Rent and
: not paying the bank that bought their HUMMER, THE BOAT, etc., one penny, going to church on Sunday and feeling justified?
: On any given American street there are at least 2 or 3 of these
: people. Its one thing to be a homeowner unable to make a payment, its another thing to be stealing from the banks, ie, collecting rents and pocketing the money. Stealing is stealing.

It's a zero sum game. Somebody wins, somebody loses. Does the new GM feel bad that their bond holders have been screwed over? NO. The bondholders took a risk and lost. Does Citibank feel bad that they made horrible loans and have now scooped over $300B from US taxpayers and their offspring? NO. What about AIG? I think their recent bonus handouts demonstrates how horrible they feel about everything. I believe that anyone with any common sense would have never made loans to people with Zero Downpayment, No Proof of Income, No Savings, No Assets, and a history of not paying their bills yet these were some of the most popular loans. So if a landlord has decided to cut their losses and ruin their credit, that is their personal decision. If their tenants want to continue to live in their property, the tenants need to pay rent. I think the 90 days free for foreclosed tenants is quite a good deal.


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