"Meet The Squatters: Here Are The Millions Of Americans Who Live Mortgage-Free For Up To 5 Years And Counting" "The topic of Americans living mortgage-free in foreclosed homes on which banks do not have proper titles is nothing new" "what were once isolated incidents are becoming an epidemic, and like it or not, are creating a massive capital shortfall in bank balance sheets (after all "assets"... [more]
"Meet The Squatters: Here Are The Millions Of Americans Who Live Mortgage-Free For Up To 5 Years And Counting"
"The topic of Americans living mortgage-free in foreclosed homes on which banks do not have proper titles is nothing new"
"what were once isolated incidents are becoming an epidemic, and like it or not, are creating a massive capital shortfall in bank balance sheets (after all "assets" are supposed to generate cash in most cases), which will likely involve yet another broad taxpayer bailout of these same banks that now have no recourse to do much if anything to evict these same squatters who instead of paying their mortgage (or rent), prefer to purchase trinkets and gizmos. "
http://www.zerohedge.com/article/meet-squatters-here-are-millions-americans-who-live-mortgage-free-5-years-and-counting[less]
Response by NYCMatt
about 15 years ago
Posts: 7523
Member since: May 2009
Or we could just rightfully let those banks D I E.
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Response by rb345
about 15 years ago
Posts: 1273
Member since: Jun 2009
Matt:
I'm with you. Capitalism is a darwinian system. Those that are incompetent or poorly
run deserve to become oil for future generations.
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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008
How's about 20% rate on homes, cars, credit cards......
I'll tell ya one thing, w67 would save a lot more lending to tools borrowing at 20%.... The banks can have 20bps to be the inbtwn.... But solves the kill bank problems also.
5 Fking years living for free on our taxpayer money. Man, who says housesitting doesn't pay.
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Response by GraffitiGrammarian
about 15 years ago
Posts: 687
Member since: Jul 2008
Dream on. The banks own our government lock, stock and barrel.
Or we could just rightfully let those banks D I E.
Matt:
I'm with you. Capitalism is a darwinian system. Those that are incompetent or poorly
run deserve to become oil for future generations.
How's about 20% rate on homes, cars, credit cards......
I'll tell ya one thing, w67 would save a lot more lending to tools borrowing at 20%.... The banks can have 20bps to be the inbtwn.... But solves the kill bank problems also.
5 Fking years living for free on our taxpayer money. Man, who says housesitting doesn't pay.
Dream on. The banks own our government lock, stock and barrel.