[MyShadow]

There appears to be another conundrum here for Main Street.

Let's say I have one of these crappy mortgages but not in default (I don't but just an example). My bank reviews risk and see's that the LTV is risky due to declining values. My bank decides to cut bait and put my mortgage into the "program". I didn't agree contractually that my mortgage could be "assigned" to the US Gov't and be auctioned off at 50% or whatever. The US Gov't wants to be admonished from litigation if this goes down - so it's between me and the bank.

Lets say I loose in this battle. Then I loose all of my equity, and I loose the property. I'm out on the street. The bank gets 50%, and then the US Gov't gets the property and sells it, maybe later, and gets back the 50% paid to the bank, and makes a profit - which goes back into the system , maybe to address national debt or such. This is all good for the bank and US Gov't - but Main Street is 'f-ed'.

WTF?

This is just more of the Elite scheme at play.

Oh - and here is another sick twist to this. Lets say my bank that holds the mortgage is one of those "failed" banks like IndyMac or such that is now owned by the US Gov't. They could now legally sit there and flip these houses for profit. There is alot of incentive for them to do that - it's a win win for them. But we get 'f-ed'.

WTF?

Z - This is more than the mother of all frauds. It's the mother f-ing fraud of all time.

Sorry - about my f-bombs!

MyShadow