Standing against big government and for the people!

Beaten by The Banks.

In case you were wondering....the banks are not lending any money. Why not? because the don't have to. They have plenty of operating capital (as evidenced by large year end bonuses) courtesy of the TARP payments.

They are also not foreclosing. There are lots of homes in "foreclosure" yet the banks don't foreclose because then they would be responsible for homeowner association fees, property taxes and lawn maintenance. This leaves the HOAs and municipalities holding the bag for bank property and causes the HOAs and local taxing authorities to raise the taxes/fees on the rest of us, in order to maintain their services.
So we are all getting screwed by the banks. Again.

In addition, those homeowners who are lucky enough to have found buyers for their properties at less than the mortgage amount are being left twisting in the wind because those sales require bank approval. There is no communication from the bank on short sales. The contract is submitted by a negotiator to the Bank and then the contract sits on someone's desk, waiting for approval, until the buyer finally walks away angry and frustrated.

Then there is the matter of interest rate increases for bank credit cards. Some have raised their rates to close to 30% even for accounts in good standing. We used to call that loansharking. If , by some miracle, you have managed to save a few bucks despite the economic recession, the banks pay you nothing on your money and the government taxes you, then inflates the economy, until it disappears entirely.

America is being raped by the Banking industry, and they just keep getting away with it. Worse, we have paid them with Tarp money to do it to us.

Where is the media? Where are the rules and regulations that are supposed to govern the financial institutions? Where is the congressional oversight committee? Seriously!

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Posted By Patriot to Patriot Unplugged at 1/18/2010 03:45:00 AM
read more at www.patriotunplugged.blogspot.com

Tags: TARP, banks, foreclosure, sale, short

Replies to This Discussion

Permalink Reply by Johnnie Thornton, Jr. on January 18, 2010 at 7:38am

Could it be that the banks and obama are in cahoots together and this is another part of the plan to make us dependent on the gov't. I have a home that FEMA just placed in a flood plain and now I have to purchase flood insurance. Why after living here for 8 years can they change the playing field. Wasn't in the flood plain before now. Can't afford the 8,000 dollars a year for the type of insurance they say I have to purchase. I believe they are bleeding us to death one dollar at a time.

Permalink Reply by ReelTee on January 18, 2010 at 7:45am

Wow Johnnie, That is a lot of money for flood insurance! Maybe it is time to move. You could pick up a short sale bargain, but how will you ever sell your property now that you have to disclose an $8,000 per year requirement for flood insurance? On top of no doubt high property taxes. Even if you could find a short sale, the Seller's bank wouldn't ever respond. I guess you are stuck where you are unless you win the lottery.

Permalink Reply by Johnnie Thornton, Jr. on January 18, 2010 at 9:45am

Reel, I could not sell this house to a blind man from Mars. I am in appeal mode right now, but FEMA is like all gov't programs, they are never wrong, so it is not looking good from that standpoint. I swear everytime I turn around, something or some part of the gov't is in my pockets. Hard to get ahead or stay afloat (pun on flood insurance). They are gonna have to squeeze this turnip pretty hard to get any of my blood, just ain't much left.

Permalink Reply by Dan Duckworth on January 18, 2010 at 12:21pm

Another 200 banks to fail this year. Last year I think it was 180. As each fails, more likely to fail. The whole housing collapse was a setup and this is part of the plan...

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