Oldtent Archives 2010

The stock of PMI has dropped form over $40 in ‘07 to $2.50 a share now. That would have been great to short back in the beginning of ‘08.
At $2.50 per share, wonder how much longer they are going to be able to stay in business. Housing market is going to get worse before it gets better!!
Bailout of another insurer coming down the road from out wonderful Goverment officials?
And I wonder why the banks are going after the people who have had their homes foreclosed?
Lender’s Pursue Mortgage Payoff
Regards

Just curious and certainly no expert but, aren’t we leaving out some other “walk away” financial ramifications. Was my understanding that the mortgage holder could file a 1099 and notify the IRS. Whereby the IRs would come after the mortgagee with penalty and interest. Does anyone know the details on this?

Also, I was led to believe that the bank could also seek judgement and/or assign it to a collection agency with powers to garnish one’s paycheck.

Is this all BS or does one have to look over their shoulder forever? If true, as above, does bankruptcy provide an escape?

I did not know that , thanks for bringing it to my attention.
But, wouldn’t it be better for the government to resolve the issues with the mortgage holders, and help out the “mortgage insurers ” with a bailout??
LOL - just a thought. It must be murder on the mortgage insurers. Would not happen to be AIG would it?
Regards

Good luck and best wishes Coin Guy.

one little thing you forgot to mention is the “mortgage insurance” on your house. the mortgage insurance pays the difference, up to a specified limit, between the mortgage balance and the resale of the house to the lender. the dirty little secret is, the house must go into foreclosure and be resold before the mortgage insurance kicks in. if they arbitrarily lower the principle, they get nothing. just thought you may want to know.

rno

So the reporter KNEW that the Gov. is funding banksters to foreclose on people houses and sell for a discount while refusing to lower the princlple for the owners who have put so much real hard earned money in their homes? That the Gov. is doing this to people while telling us tthey are doing all they can to help the economy?A apparent flat out lie and swindle of the people. wow perhaps there are other reporters or congress reps that would be intrested. Some one needs to call them to the table and ask them what their intentions are in doing this verses doing things to help the  home owners to lower the principle.It is obvious what there doing behind the scenes to fund the fat wallet banksters at the expence of the tax payers.

I am fine. I knew a year ago that there would be crappolla going on with the bailout of Bear Sterns, and I was not going to support it. So, I knew and made a “strategic default” on my house.
I have a good job, so housing is not a problem
Again , the reason for the post was that I did not know all this stuff was going on behind the scenes. I figure I am pretty well versed in finance, what the government is doing, etc. NOT!!!
Things I thought were big things are small potatoes compared to what they are doing in the housing market. Just thought I would share what i found out, and see if I was the only one who did not know about this stuff. You have shared with me, that this is new information to a few folks.
Thanks to all who shared kind words and wishes.
We need to do something about this. I do not know what that something is, and if anyone has any ideas, please post.
I did talk to one reporter, and he felt that the average American knew this was going on. I disagreed , but he was not interested. So I am thinking of what to do with this information.
Have a great weekend y’all. And thanks for you feedback.

Thats a good idea going to the press the whole world should know about it. Claptona if U want to remain anonymous you could tell the press that just show them what you found out.

A housing development? Cool. Let me know if you get one.With a little room for a garden since its a good growing  zone. Right now woih all going on here just trying to survive for now.My car rental

alone is about 1200 a month majore financial  stree with no assets right now upside down on property like claptona they want these houses trust me. Even people who didnt refi and bought before the boom are upside down and these banks are jumping on anyone having problems and  even excellerating foreclosures if they can. 

.

I am horrified by your story and astonished that there seems to be no avenue that you can follow to get this sorted out. Perhaps you should now go to the press. Or are they all tied up as well. There must be one honest reporter who could follow this up and make sure that the whole world knows.  They can’t all be on TV.

Iike my grandpa who had a million dollar lesson in the depression and even had to move his family with family for a time always said. “if you don’t have your health, you don’t have anything.Hope you problems is’nt serious.You know I talked to a coin guy here who has said he has seen people here selling family heirlooms jewerly coins in tears. He said he feels guilty because they have to little and her has so much. I told him to just be there for them when they need him Unlike the predator bankers and predator pawn shops he helps by giving the best price possible to  people.You know stress makes the body build cholesterol good in the cave man days fight or flight but not today because we dont exercise to get rid of it.  Work is stress so that exercise is not enough.The way u can help undo it is exercise.It is a culprit of many health problems including weight gain esp  if people tent to eat more during stress also once good but no more due to no exercise causing even more problems. Exercise, starting slow can help undo some of that Good for cardio if u eat right and don’t over do it..Hope u can check in once in awhile.

According to the latest statistics from the China Gold Association, China’s gold output reached 313.98 tons in 2009, up 11.34 percent year-on-year. This was the first time that China’s gold output had exceeded 300 tons, setting a new record.

So far, China’s gold output has been first in the world for 3 consecutive years. In 2009, the industrial output value of China’s gold industry reached 137.53 billion yuan, up 18.56 percent year-on-year. China’s top 5 provinces by gold output are Shandong, Henan, Jiangxi, Fujian and Yunnan, and the gold output of these 5 provinces account for 59.48 percent of China’s total. At present, more than 500 counties produce gold, and the gold industry has become the pillar industry in more than 100 counties.

By People’s Daily Online

Russell says DOW 1000 a possibility

Thus, and it’s really incredible, the Dow rallied exactly back to the 50% Principle level. Having risen to 10725.43 on January 10, the Dow then turned down. I consider this extremely bearish action. It’s as if the market see-saw swung all the way back to the old 50% level and then turned down.

Picture a child’s see-saw. The heavy end rises to exactly its horizontal level, but it stops there. From the horizontal position, the heavy end of the see-saw sinks down again to the ground. The market can act, physically, like a see-saw.

Working again with the 50% Principle, I now see the market sinking down, much like the heavy side of a child’s see-saw. I see the Dow declining to the low from which the entire rise started. That low was the 2002 low of 7286. If the Dow does not halt its decline at 7286, I see it sinking down to its 1980-82 area, which would be around Dow 1000.

I too am very sorry that happened to you…and it makes me mad that I don’t have a large housing development ready to say “Come on Down your covered”….Damm this Jamacian…

With the technical information that I had at the time…which was the 12/02 high, I felt very comfortable with this forecast as a resting place.  After reviewing the ratio I use in gold vs. the gold issues this week, a week in which we’ve had plenty of excitement in the ^HUI…I’ve come to the conclusion this isn’t a normal correction, but an accelerated affair, both in time and price.  The effects of this materialization will be felt almost immediately, with a concentration in the front month contract.

While I do feel comfortable with the ^HUI @ 300, +10/-10 as a very temporary resting place, I’ll redact my 1010 call in Gold(and 13 + change in silver)…Mention I personally believe something far worse is afoot, which was my suspicion at the natural high in August.  I gave you two numbers to look for then, 260 and below the ‘08 lows, I think these come into play in accelerated fashion…and now, I’ll walk off the scene - permanently.

I have health issues I’m dealing with and I don’t need the aggravation.

Best to all and good luck,

The CoinGuy

Claptona was able to do some serious dd on the housing scam and was some  good info. JMHO put I think it should be saved.Also another reason anything owned by banksters is not a tangable asset any longer. They have no credibility what so ever any more than the guy outside a mall who opens his coat trying to sell u some fake watches. 

 On cell not editing.

Thanks for sharing the dirty dealings of the bankester. Im sure most the millions of people who lost their homes had no clue of the dept trade offs going on here.Meanwhile they get a bail out tax write offs and insurance and you get kicked to the street like a piece of used up goods and they rince and repeat. Did they sttick you with a bill too? I think what you posted should be published so people will know the truth. This is in no way helping the home owners just special interest banks. They buy for a discount but could’nt or would’nt help you. People here on top of it credit ruined first by letting everything go to pay their over pricedd mortgage then could’nt pay that any more, could’nt modify like you some cant even find a place to stay some have kids. Great Amerrica yeah. It was once thought of a asset your kids could inheret and part of what made America great, but now there even ripping that out of the American people left and right leaving the kids and grand kids as tax payers nothing but a bill.You know in the days the people would and did drag bankers to the streets lampost style but now that there is more laws protecting the crooks they are left to their own devices to cheat people left and right.I hope you found a place to stay and you are alright and donmt let them stick u with a bill from something they took from you.

One of those things that make ya go hmmmmmmmmm?

www.youtube.com/watch?v=e9jJRzcp-7U

Thanks, Neo

Certainly looks like a rocket test fired from a sub what nationality is unknown.

All nations swear  it was’t them.

Thanks a lot u wanka u,  I’m replying via my laptop because now I gata buy a new keyboard for my pc ’cause it’s full of coffee thanks to you!

OMG that’s hilarious!

Neo

www.youtube.com/watch?v=9aghWnnThZQ&feature=related

The town I live in, which is relatively small, has their bank closed by the FDIC.

Cool!!!!!!!

Sorry if this had already been posted.

Regulators shut down banks in 5 states

I finally understand, it is all about the housing market - nothing more - and the government will never succeed in keeping housing prices up.

www.thestar.com/news/canada/article/757495–french-missiles-or-just-toy-rockets-mystery-deepens-in-newfoundland

Neo