Defaulting On Home Loans and the Banking Conspiracy

reply to post by Julie Washington


Considering that was my career originally, I will tell you that you are wrong. They lose money on the homes they foreclose on. I guess you are unfamiliar with the problems that arose during the foreclosure epidemic in the depression?

I swear, no one hear pays attention

In addition to the above comment by Aquarius.
When you have a mortgage, the bank owns the house. Most houses are owned by banks, with mortgagees (hopefully), so when one buys a house from another, the bank that owns it may change (or not), and the "tenant" changes.

reply to post by babybunnies


Actually, the bank holds the title to all homes that are financed until you pay it off. Meaning they own the home and you are buying it from them. They also own all homes they foreclose on.

Originally posted by Stewie
In addition to the above comment by Aquarius.
When you have a mortgage, the bank owns the house. Most houses are owned by banks, with mortgagees (hopefully), so when one buys a house from another, the bank that owns it may change (or not), and the "tenant" changes.

You are correct, I should have expanded on that, they actually hold the deed to the home. If and when you pay off the loan you get a free and clear deed/title.

Originally posted by Stewie
reply to post by dbloch7986

 

This is not to say that these big corporations and our federal government have not been criminal, because they have. They realize they are the law, and thus, above the law. The question remains,
what are we going to do about it?

I SAY WE GO STEVEN SEGAL ON THEIR BITCH ASSES!!!! KILL EM ALL, LET GOD SORT EM OUT!!!

If only we could.....

reply to post by markfelt


Thanks for that info and references. Most people who have even remotely touched on economics understand the subjective value of money.

You make some good points on buying things in cash. I have never been in a position to do that, but oh how i would love to be. We can all dream cant we.

reply to post by slayer420

Stretch them out, one at a time?

I didn't say that....

Originally posted by dbloch7986
reply to post by markfelt

 

Thanks for that info and references. Most people who have even remotely touched on economics understand the subjective value of money.

You make some good points on buying things in cash. I have never been in a position to do that, but oh how i would love to be. We can all dream cant we.

Indeed, but you can't just assume that their planned system of subversion doesn't include cash money. Soon enough people will begin to realize what a crap-shoot the credit/loan/pay interest system is and will start using cash. Then all of a sudden cash becomes worthless and all you have left is that little plastic card that they charge 25% interest on every use........

We are being bled dry people, nobody can say what their ultimate motives truly are but all good things (for them) have to end eventually and they must pay for their abuse one way or another sooner or later... I hope... Though I have no doubt they already have numerous scapegoats and fall-guys planned an in place already... Throw people a bunch of undue payment and gifts and suddenly they feel important enough not to question the motives of the hand that feeds them, then suddenly they take all the faults of that powerful hand themselves regardless of how innocent or guilty they may be...

In the end, no matter what we do it'll be too little WAY too late.......

reply to post by slayer420


True.

And even if you hold the title for something it only belongs to you until the state decides to take it from you for whatever reason real or imagined.

reply to post by markfelt

And if you have the money, well, go ahead. Try to pay cash for a new car. Try to pay cash for a home. People literally don't want to deal with you, even if, by some miracle, you walk in with $200,000 in freshly-minted 20s. I'm not saying you won't be able to -- they have to take your money, because the government says so -- I'm saying that the salespeople will make you wait, try to aggravate you into leaving, try to talk you into buying something that costs more than the cash you have, etc. All the profit is in the loan making, not in selling the actual goods.

This is essentially correct, Finance and Insurance is a more significant source of profit for people selling large ticket items like cars, furniture, boats and homes than the actual markup of their cost to purchase the item and the profit of then retailing it for a profit to you.

On a 72 month car loan for a 25,000.00 car, the dealer might make 1,200.00 off the actual physical sale of the car.

The interest on a 72 month car loan for the average consumer will actually exceed the entire cost of the car in some cases. You will pay in excess of 25,000.00 in interest to carry the note that long.

The bank that makes the loan will award percentage points of the loan to the originating dealer on the loan.

Usually 1 to 3 points depending on how high of an interest rate the Finance Manager closed the contract at.

The finance managers usually have 1 to 3 points that they can add or shave from the loan in order to get you to accept terms on the loan and make profit.

Ideally they are going to try to hold 2 to 3 points, meaning if they told you great news they can get you an 8% loan you actually likely qualified for a 5% loan.

The Bank will now cut the dealer a check for their portion of the interest proceeds up front. That is usually 150% to 500% of the actual profit they made on the physical sale of the car. So if they made a 1,000.00 on you actually buying the car, they now have made up to another 5,000.00 on you financing the car through them with one of their affiliated banks.

The Finance Managers who do the title and registration paperwork too, are trained to try to flip you from paying cash into financing with a whole host of different pitches to convince you it's wise to keep your money in your pocket and to finance the transaction instead.

Leasing allows for even more profit than financing.

If they absolutely know you are going to pay cash, because you took out a credit union or home equity loan already, and that is the source of your cash, then they absolutely will let you wait and wait, while they attend to every other customer who might finance first.

Because these employees work primarily for the commission they get off of selling the financing contract they literally have no desire to help you, but simply do, because it's part of 'the job'.

reply to post by Aquarius1
No one ever gets a clear deed to any property.

Look more deeply.

reply to post by ProtoplasmicTraveler


Next time I buy a car, I'm taking you with me!

I wish I talked to you before I bought my last one.

reply to post by dbloch7986


Let's talk about your new bicycle! It will never run out of gas on you, it requires no license or registration or insurance, and you can park it anywhere.

When the SHTF and everyone else is fighting at the long lines at the gas station or run out of gas on the side of the road you will be peddling by enjoying the breeze at a steady 15 to 20 miles an hour.

You can never get a code violation, and it's the perfect excuse not to date girls!

reply to post by ProtoplasmicTraveler


At this time I know two things when TSHTF.

1) I will be losing a lot of weight.

2) I will be relying on my own two feet for traveling.

reply to post by dbloch7986


this is a great thread with a lot of my favorite posters taking part
i agree with you dbloch that the banking conspiracy might be the biggest of our time
i can think of one bigger conspiracy
but we can't take down Rome in a day

but we can take the bankers down and that is THE control mechanism against the people

nothing

television

radio

movies

media

nothing can cause someone to gleefully engage in behavioral modification
a modification that is not their own personal will

but that of others
war comes a really close second
and religion comes third
but money makes the world go round and round and round and round

bravo sup-herb

thread

Originally posted by Aquarius1
If and when you pay off the loan you get a free and clear deed/title.

Even if you managed to pay off the mortgage in full, there is still an issue. You never truly own your own house. You still have to pay property taxes on the house. If you fail to pay the property taxes, that house can be taken away by the government.

reply to post by JadedTree


quite true
we are owned and labled
everything we have is given to us as a gift
(i haven't watched television in a year and a half; i just needed to say that)
did you ever see the travel-discovery-national geographic-food network; CIA

i mean

CNN

network special about russia and stalin and how its funny for the young rich kids
to live in these retro-stalin-pinkocommie lofts built in this building on the river

that all of stalin's engineers
all had to do cool

stuff in the soft foundation rock to make it sound
right there beside the by the river
well

do you remember how everything had a number on it to remind you that
you belonged to the people's government

hmmmmmmmmmmmmm


well mine has three numbers then two numbers then four numbers xxx-xx-xxxx

how many does your have

reply to post by aew14


the answer to that is rick steve's europe by the way
hey

when i used to watch the television
it was pbs

okay

im what you guys would call a lurker here but i had to join if only to s&f this exellent post by dbloch.
I also read protoplasmics awsome all roads lead to rome in which i copied and pasted to send to a friend of mine
(hope you dont mind). mind blowing stuff. keep it up guys

Originally posted by kolcath
im what you guys would call a lurker here but i had to join if only to s&f this exellent post by dbloch.
I also read protoplasmics awsome all roads lead to rome in which i copied and pasted to send to a friend of mine
(hope you dont mind). mind blowing stuff. keep it up guys

Hey thanks, glad you got a chance to read that too. The Banking conspiracy ties in heavily with All Roads Lead to Rome and both are things people at the very least should familiarize themselves with and consider.

Let's face it, there is not something quite right with our world and we are definately missing a piece of the puzzle to that.

Thankf for posting.