Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 If you are locked into a long-term low-interest mrotagge and not having any trouble making your payments at all and your mortgage company goes broke overnight like Bear Stearns, is your house free! Can you pay 2 cents on the dollar as the company that buys your mortgage company might? Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 consumers should have a right to buy out their own mortgage at the rate another bank buys out the mortgage company.............. Why should only JP Morgan profit from Bear Stearns' demise? I see a class action suit here............. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 If you are locked into a long-term low-interest mrotagge and not having any trouble making your payments at all and your mortgage company goes broke overnight like Bear Stearns, is your house free! Can you pay 2 cents on the dollar as the company that buys your mortgage company might? The answer is a qualified yes. If you are a member of The Carlyle Group or the CEO that just received a multimillion dollar parachute from a failed corporation that lost millions and it's stock tanked, you may not only do it, but the Fed. or US Gov. will pick up the tab with a smile. But on the other hand, if you are a working stiff, well you better be prepared to see your mortgage interests skyrocket. There is no room for deadbeat homeowners in the good ole US of A! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 Only if you buy all the mortgages in you lenders portfolio can you get them at 2cents on the dollar. If you have 240 million dollars, or you know people who do, you could have bought Bear Stearns yesterday. Tomorrow, under the same senerio, you can buy the mighty Lehman brothers. Call the Akels, Maines, Kradjians, Newmans, the great Hillard, and the Koffmans and let's put something together. Imagine.......the people of Broome County collectively owning one of Giants of Wall Street. Hell, we could pull this off with just the Broome IDA......get George Akel on the phone......... Forget the shoe factories and the time card business! Here we go!!!!!!!!!! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 Only if you buy all the mortgages in you lenders portfolio can you get them at 2cents on the dollar. If you have 240 million dollars, or you know people who do, you could have bought Bear Stearns yesterday. Tomorrow, under the same senerio, you can buy the mighty Lehman brothers. Call the Akels, Maines, Kradjians, Newmans, the great Hillard, and the Koffmans and let's put something together. Imagine.......the people of Broome County collectively owning one of Giants of Wall Street. Hell, we could pull this off with just the Broome IDA......get George Akel on the phone......... Forget the shoe factories and the time card business! Here we go!!!!!!!!!! if the truth were known, you are giving kradian & newman way to much credit. afterall, with out the akels, newman would be nothing and matthews has certainly seen himself in bankruptcy court on more than one occassion. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 if the truth were known, you are giving kradian & newman way to much credit. afterall, with out the akels, newman would be nothing and matthews has certainly seen himself in bankruptcy court on more than one occassion. For all I know none of them have a dime. What I do know is that they all seem to be able to get their hands on the money when they need it. Regardless of the source. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 For all I know none of them have a dime. What I do know is that they all seem to be able to get their hands on the money when they need it. Regardless of the source. a lot of us can. that in itself does not mean much other than you owe your sole to the guy that gave it to you (in the case of newman and akel) now rozen and koffman, that is a different story. yes, there is real money there. maines and matthews are the new rich, as opposed to old money. they are still amassing it. the other two have it. but you are loosing sight of more real money (retired doctors, current doctors, a few lawyers (lawrence schorr) and the stack family. their stock price is 26.00 per share after two splits. you do the math. probably more there than akel, matthews, maines and koffman put together. all from a bait and tackle shop in binghamton. can you imagine it? now there is a success story. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 a lot of us can. that in itself does not mean much other than you owe your sole to the guy that gave it to you (in the case of newman and akel) now rozen and koffman, that is a different story. yes, there is real money there. maines and matthews are the new rich, as opposed to old money. they are still amassing it. the other two have it. but you are loosing sight of more real money (retired doctors, current doctors, a few lawyers (lawrence schorr) and the stack family. their stock price is 26.00 per share after two splits. you do the math. probably more there than akel, matthews, maines and koffman put together. all from a bait and tackle shop in binghamton. can you imagine it? now there is a success story. this family has worked very hard for what they have. Link to comment Share on other sites More sharing options...
Guest guest Posted March 21, 2008 Report Share Posted March 21, 2008 a lot of us can. that in itself does not mean much other than you owe your sole to the guy that gave it to you (in the case of newman and akel) now rozen and koffman, that is a different story. yes, there is real money there. maines and matthews are the new rich, as opposed to old money. they are still amassing it. the other two have it. but you are loosing sight of more real money (retired doctors, current doctors, a few lawyers (lawrence schorr) and the stack family. their stock price is 26.00 per share after two splits. you do the math. probably more there than akel, matthews, maines and koffman put together. all from a bait and tackle shop in binghamton. can you imagine it? now there is a success story. Who is Lawrence Schorr and where does he get "real money"? @ Link to comment Share on other sites More sharing options...
Guest Guest Posted March 21, 2008 Report Share Posted March 21, 2008 Who is Lawrence Schorr and where does he get "real money"? lawrence schorr is the attorney involved withthe stack family. he practices at levene, goulding & tompson. he has REAL money. go to the NASDAQ, type in DKS, go to insider trading and look for schorr's name. you'll see what i mean. look at ed stack's name while you are there and the 12,000,000 outstanding shares tht he still owns. you do the amth, 26x12,000,000. @ Link to comment Share on other sites More sharing options...
Guest Guest Posted March 22, 2008 Report Share Posted March 22, 2008 Thanks Link to comment Share on other sites More sharing options...
BCGirl Posted March 23, 2008 Report Share Posted March 23, 2008 No- you do not get your house for free. The reason that these lenders are going broke is becuase of all of the people that CANNOT pay back their loans. They, unlike you, had adjustable rate mortgages, and now as interest rates have risen, some have seen their pmts double over the past few years. These people defaulting have caused the lending companies to write off millions, in some cases even billions due to the now, uncollectable mortgages. However, not ALL of the mortgages are bad, it is just an estimate based on credit scores and loan types (adjustable rates are more likely to default). The reason that JP is buying for $2 a share instead of $.02 is becuase of GOOD loans, like yours, that they may some day be able to collect on. @ Link to comment Share on other sites More sharing options...
Guest Guest Posted March 23, 2008 Report Share Posted March 23, 2008 No- you do not get your house for free. The reason that these lenders are going broke is becuase of all of the people that CANNOT pay back their loans. They, unlike you, had adjustable rate mortgages, and now as interest rates have risen, some have seen their pmts double over the past few years. These people defaulting have caused the lending companies to write off millions, in some cases even billions due to the now, uncollectable mortgages. However, not ALL of the mortgages are bad, it is just an estimate based on credit scores and loan types (adjustable rates are more likely to default). The reason that JP is buying for $2 a share instead of $.02 is becuase of GOOD loans, like yours, that they may some day be able to collect on. Yeah, thx for telling us what we already know. If JP Morgan can buy all the mortgages for 2% of what they were worth two weeks ago why can't a class action of home owners buy back their own mortgages at those prices? Why does JP Morgan get preferential treatment. If a lawyer was to put togehter 20,000 or 100,000 mortgsage holders and create fund to bid aganint JP Morgan and buy the mortgages why shouldn't they be given the opportunity? Link to comment Share on other sites More sharing options...
Guest Guest Posted March 24, 2008 Report Share Posted March 24, 2008 Makes sense. What lawyer would do it? @ Link to comment Share on other sites More sharing options...
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