Posted by enotary/va on 2/7/11 11:45am
Msg #371800

Lenders and Foreclosure

It's been up to a year ago, I saw a posting that showed foreclosure from the lenders side. It showed that it was not a bad deal for the investor or lender. It showed that fannie mae comes in and helps the lender so they don' lose any money. I did a search and could not find it. Can anyone help and find it.

Reply by Moneyman/TX on 2/7/11 1:17pm
Msg #371808

You mean the one that showed that the banks actually make a profit on a foreclosed home selling for less than the amount owed on the mortgage? If so, the one I'm thinking of had a link to a slide show about how it worked. I think Freddie or Fannie might have been the government agency (ies) that paid the banks for their "loss" in that program.

I couldn't find the one I'm thinking of but thought if I put a little bit of the information in my post someone else might also remember a key word or two.

Reply by S Peterson on 2/7/11 2:13pm
Msg #371817

Here's one link: http://www.youtube.com/watch?v=LoSPTjd_PXM
Google One Bank, I saw many videos on the fraud they perpetrated.

Reply by DaveCA/CA on 2/7/11 7:05pm
Msg #371844

I think this is what you are looking for

http://www.youtube.com/watch?v=ssl5yb7FewA

Yep, it's pretty interesting. Hard to believe.

Reply by Moneyman/TX on 2/7/11 7:29pm
Msg #371846

That's the one I was thinking about. Thanks Dave

If that is not the same video (I think it is because it covers the same info), it is the same people in the video. In case they have more videos.