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Bad Mortgages


Thursday, October 25, 2012

Well, Bank of America bought the bank that did a lot of bad home mortgages. So, now B of A is being sued for bad practices; the issueing bank they bought sold bad morgages to Fanny and Freddy.

Well, isn't it "Buyer beware!" in second-hand retail? And let's find out why Fanny and Freddy couldn't be bothered to notice that the nation did not need to be on the hook for a bunch of bad mortgages!!!!

And Clinton took off a bunch of bank regulations, such as not allowing balloon payment mortgages. He did a lot of good for this nation, but maybe he should be sued? Really, I think Fanny and Freddy should be sued first.
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Member Comments About This Blog Post:
JIBBIE49 11/5/2012 2:06AM

    The guy running F&F was a thief who lied to everyone and covered up what he was doing, if I recall. Couldn't be any worse than what Old George Bush got away with in the Savings and Loan rip-off back in the 80s. Of course, Reagan had deregulated the banks then.

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CMBELISLE 10/26/2012 8:53AM

    SOOO much political garbage going on but you still can't get people to open their eyes to it. Sad state in our country.

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USMAWIFE 10/26/2012 12:44AM

    for a really good explanation of this

http://www.rawstory.com/rs/
2012/10/24/u-s-sues-bank-of-ame
rica-for-1-billion-over-bad-mortgages/

According to this BOA was also doing the same thing Countrywide was doing even after they purchased countrywide So if they do the crime, they should pay the fine

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