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I cannot beleive this. There is a deal going on right now with the federal government and that banks like Bank of America, CitiBank, Wells Fargo, J.P. Morgan Chase and Ally Finacial are reducing the principal on people that have a mortgage with them. The qualified mortgage holders are ones that owe more on their homes than what they are worth. WTF?!?!?!?
The bad part is, the home owners are complaining that this is not enough to bail them out. Again, WTF?!?!?!
So technically people that pay their home payments on time, extra payments, paid it off, and bought "less" house than they could afford sit back and have to have their tax dollars taken and giving to these people that bought too much house?
My god, what is this world coming to?
These banks love these type of people, because they are habitual spenders, thus they come back around after they get a little cash in their pockets and spend it again. So a few million will not even put a dent in these banks, they will win their loyalty and have them back again.
http://money.cnn.com/2012/03/13/real_estate/mortgage-settlement/index.htm?hpt=hp_t1
The bad part is, the home owners are complaining that this is not enough to bail them out. Again, WTF?!?!?!
So technically people that pay their home payments on time, extra payments, paid it off, and bought "less" house than they could afford sit back and have to have their tax dollars taken and giving to these people that bought too much house?
My god, what is this world coming to?
These banks love these type of people, because they are habitual spenders, thus they come back around after they get a little cash in their pockets and spend it again. So a few million will not even put a dent in these banks, they will win their loyalty and have them back again.
http://money.cnn.com/2012/03/13/real_estate/mortgage-settlement/index.htm?hpt=hp_t1