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Who Owns Your Mortgage?

November 19, 2010


Well I don’t have one – but many people do. Does yours looks like this? Apparently many do.

Oh what a tangled web we weave,
When first we practise to deceive!
Sir Walter Scott, Marmion, Canto vi. Stanza 17.
Scottish author & novelist (1771 – 1832)

If our economy is going to recover this mess needs to be untangled – soon. The Japanese never did – and thier economy is STILL sick.

6 comments

  1. Bank of America owns my mortgage.. But then I figured I only be here for 10 years.. Hopefully, I will sell this home then and MAKE some $$. You are correct Doggie.. it is a mess.. as I said before, there are trillions of worthless swaps out there based on these mortgages.. The banks are sitting on them just waiting for a sucker to buy them. The QE1 failed. This QE2 has never been done before.. who knows what will happen. Inflation is on the horizon. Don’t be suckered into this deflation poop.


  2. B of A are you sure?

    Make money on a house? Those days are over. Was never that true unless you moved to a cheaper area – you have to live somewhere.
    Most places houses lose value as they get older – just like everything else does.


    • Dog, I made $60K on my last home here in Tulsa. Put 20K down when I bought it.. back in ’92. I sold it two years ago. Now, I bought this house because it was too good to pass up. Everything inside came with it!! The hood it set is an old neighborhood; however, I have A VIEW. In ten years, some yuppy will buy it. I hope. If not, I will own it.. and probably die here. Still looking for that Lakehouse though.. I want one. 😉


    • …and you made what after inflation?


    • If you see inflation at 10%.. I made 50K. I was the first owner of the home.. all my homes except this one.. I was the first owner. You have to consider this in part of the equation.


  3. My favorite part of this article is the “Fraudclosure flow chart” near the bottom of the article:

    Is loan documentation fucked up?
    (Yes, and borrower is in default.)

    Borrower disputes foreclosure?
    (Yes – fucking liberals! Will we catch shit in court?)
    (No – STFU!)

    Banksta – you is fucked! 😀



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