Comments on: You Haven’t Seen Amazing Until You See How Bank of America Bailed Out This Guy http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy ... Keeping New Jersey Consumers and Mortgage Borrowers in the Loop ...... Mortgages, Refinancing, Credit & More... Wed, 10 Mar 2010 06:16:54 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: stuglow http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy/comment-page-1#comment-198 stuglow Thu, 29 Oct 2009 18:12:56 +0000 http://newjerseymortgageblog.com/?p=1291#comment-198 Yeah, that's crazy. What's just as irrational is the Obama and his team claim they want people to save their homes yet they have made no modification to the rules allowing people to use money in their 401k without penalty or payback to save their properties. I'm thinking most people would prefer to keep a roof over their heads rather than a chunk of money sitting somewhere for a possible future. When people opted to place money in retirement plans, they were not losing their homes when they made the decision. Instead of toying around with all those programs, why not let people use their own money to save their homes? Obama spoke about it once as part of his stimulus and then all talk vanished. I can surmise that the money grabbers on Wall Street and the lobbyists threatened Obama's life if he allowed people to grab money from these plans. Obama is just a smarter, gentler Bush. He's firmly on the side of the rich. It's all a joke. Yeah, that’s crazy. What’s just as irrational is the Obama and his team claim they want people to save their homes yet they have made no modification to the rules allowing people to use money in their 401k without penalty or payback to save their properties. I’m thinking most people would prefer to keep a roof over their heads rather than a chunk of money sitting somewhere for a possible future. When people opted to place money in retirement plans, they were not losing their homes when they made the decision.

Instead of toying around with all those programs, why not let people use their own money to save their homes? Obama spoke about it once as part of his stimulus and then all talk vanished. I can surmise that the money grabbers on Wall Street and the lobbyists threatened Obama’s life if he allowed people to grab money from these plans.

Obama is just a smarter, gentler Bush. He’s firmly on the side of the rich. It’s all a joke.

]]> By: Fitness2geek http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy/comment-page-1#comment-196 Fitness2geek Sat, 24 Oct 2009 03:03:50 +0000 http://newjerseymortgageblog.com/?p=1291#comment-196 Sure looks like Garcia hit the jackpot. He goes from $2600 payment to zero payment. I have to add here that as a former mortgage person, it is no more difficult for an elderly person to misunderstand exotic mortgages as it is for a 30 year old. People working in the business and marketing the product didn't understand it. So why would laypeople understand? Once banks start giving $400,000 free passes just because of age, it can (and should) open up a can of worms. Every borrower at Bank of Amer should start beating down the doors with a copy of the WSJ article in their hands. It is almost obscene to stretch this far for one man & then shut out so many other people. Bad move for Bank of Amer unless every similar person gets this kind of pass. Can't wait to see what kind of bad PR this gets. Sure looks like Garcia hit the jackpot. He goes from $2600 payment to zero payment. I have to add here that as a former mortgage person, it is no more difficult for an elderly person to misunderstand exotic mortgages as it is for a 30 year old. People working in the business and marketing the product didn’t understand it. So why would laypeople understand? Once banks start giving $400,000 free passes just because of age, it can (and should) open up a can of worms. Every borrower at Bank of Amer should start beating down the doors with a copy of the WSJ article in their hands. It is almost obscene to stretch this far for one man & then shut out so many other people.

Bad move for Bank of Amer unless every similar person gets this kind of pass. Can’t wait to see what kind of bad PR this gets.

]]> By: Cal http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy/comment-page-1#comment-195 Cal Fri, 23 Oct 2009 22:20:49 +0000 http://newjerseymortgageblog.com/?p=1291#comment-195 omg omg

]]> By: Owen Gray http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy/comment-page-1#comment-194 Owen Gray Fri, 23 Oct 2009 22:18:19 +0000 http://newjerseymortgageblog.com/?p=1291#comment-194 Yeah go figure. This pisses me off. My retired parents lost their home. Life always was & always will be unfair. The powers that be in America, especially the banks could care less about fair. Yeah go figure. This pisses me off. My retired parents lost their home. Life always was & always will be unfair. The powers that be in America, especially the banks could care less about fair.

]]> By: Connie http://newjerseymortgageblog.com/you-havent-seen-amazing-until-you-see-how-bank-of-america-bailed-out-this-guy/comment-page-1#comment-193 Connie Fri, 23 Oct 2009 22:13:35 +0000 http://newjerseymortgageblog.com/?p=1291#comment-193 that is wild. lucky, lucky guy. unfair that some get a platinum deal while others get foreclosed that is wild. lucky, lucky guy. unfair that some get a platinum deal while others get foreclosed

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