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Tuesday, 30 November 2010

Beware: The Second Real Estate/ Property Collapse is Coming

The US and UK Banks have been illegally foreclosing / repossessing property, by not even checking paperwork and worse still, by forging it - whilst being bailed out by the Government with your future as collateral. Is that right or fair?

How come the overpaid Bankers and their pretentious solicitors fail to provide any copies of certified contracts or documents when requested? Maybe it's to hide fraud! And don't expect your MP or elected representatives to help - as the Government is busy enough trying to get money out of you for it's past mistakes and new ones as they work with the banks.

Watch this video for what's happening in the US - and then read on.


First it was sub-prime, now it's moving to the average/middle-class home owners! The Bankers will do whatever it takes to screw the money out of you.

They have gone to existing businesses in the UK and told them to make up the 75% Loan To Value difference, on demand, even if their properties are cash-flowing. Else they will be taken off them and sold at auction - most likely for a loss. How does that work or help anyone?
Only got a small mortgage? Did you know that if you lose your job, you won't be able to re-finance the equity! Fail to meet your mortgage payments and they'll still repossess you. Aren't you glad you did business with that lovely mortgage broker!

It's not all depressing. You can contact your mortgage company and ask for a payment holiday, they shouldn't refuse. Or don't pay them for a month or even two, then start your repayments and ask them to add the missed amount to your loan. Handy for Christmas hey ;-)

It appears that common sense says if you can't afford to pay your mortgage and are in huge negative equity then the real option seems obvious!

How much financial pain can people take before they say, "Screw It" and stop paying the crooked Bankers?

It appears that the Government might actually want the repossessions and foreclosures to carry on as it provides an 'economical stimulus' as detailed below:
  • Estate agents get paid (as they're not selling any houses on the open market in this economy)
  • Estate Agent employees get paid
  • Buying broker gets paid
  • Selling Agent gets paid
  • Selling Broker gets paid
  • Brokers' employees get paid
  • Old lender gets paid off
  • Old lender employees get paid
  • New lender gets new loan
  • New lender employees get paid
  • New lender sells to another new lender and is paid
  • Solicitors get paid
  • Solicitors office gets paid
  • Loans get sliced and diced into credit default swaps and mortgage backed securities
  • Slicer and dicers get paid
  • Salesmen now sell this sliced and diced mortgage all over the world
  • Government gets paid off taxes and get money on every ounce of profit that is made in this never ending chain
  • New homeowner buys stuff at home depot / B&Q
  • Home Depot / B&Q now have to hire more employees to deal with the homeowner demand
  • And on and on....
So it's good for the economy if you look at it.  After all, someone has to pay the Estate Agents, Solicitors, Mortgage Brokers, Bankers and Government employees, else they'd have to go and do something productive for the world instead.

Modified from info found at: http://surviveandthrivetv.com