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Question On Homes and Foreclosures
Question On Homes and Foreclosures
Hmmm, let's see. The bank forecloses on a home. They take a FULL Amount on home as a loss. But, they put the home back on the market and resale it. This time it gets paid as agreed and the second person paid for the home in full.
My Question is: How can they take a FULL LOSS on this home when it has been resold? Even if it was sold at a reduced price, they should NOT be able to take a full loss.
The home is NOT what was sold either time. It was all paper, the only one that really paid for the home was the builder as he built it... or did he? Seems to me that the builder gets a loan to purchase the materials.
This home gets paid for several times. Interesting how the Tax Payers will continue to have to buy the BAD PAPER, NOT THE HOUSE for it probably has already been SOLD again! We as Tax Payers are just having to pay for WORTHLESS PAPER.How could we ever get reimbursed for a WORTHLESS PIECE OF PAPER and the Banks keep making money on the home that has already been SOLD AGAIN?
Wake Up people... you are being bamboozeled out of your hard earned Tax Money. There is NO WAY to recoupe the loss, when in fact it never existed except on paper.
Just some "FOOD for THOUGHT"!
What are your Thoughts?
Hmmm, let's see. The bank forecloses on a home. They take a FULL Amount on home as a loss. But, they put the home back on the market and resale it. This time it gets paid as agreed and the second person paid for the home in full.
My Question is: How can they take a FULL LOSS on this home when it has been resold? Even if it was sold at a reduced price, they should NOT be able to take a full loss.
The home is NOT what was sold either time. It was all paper, the only one that really paid for the home was the builder as he built it... or did he? Seems to me that the builder gets a loan to purchase the materials.
This home gets paid for several times. Interesting how the Tax Payers will continue to have to buy the BAD PAPER, NOT THE HOUSE for it probably has already been SOLD again! We as Tax Payers are just having to pay for WORTHLESS PAPER.How could we ever get reimbursed for a WORTHLESS PIECE OF PAPER and the Banks keep making money on the home that has already been SOLD AGAIN?
Wake Up people... you are being bamboozeled out of your hard earned Tax Money. There is NO WAY to recoupe the loss, when in fact it never existed except on paper.
Just some "FOOD for THOUGHT"!
What are your Thoughts?
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