shocking footage of man evicted from his home by bankers

[eatshitndie]

most dangerous evictions are in california. just a week ago, a deputy sheriff and a locksmith were gunned down when they tried to enter a home in molesto to serve an eviction order. swat teams surrounded the home after retrieving bodies outside the front door, and in hours of siege burnt the place down accidentally. it was suspected that flash grenades might have ignited combustible materials in the home. the body of the gunman was found, burnt alive.

 

[Cruxx]

My grandmother stayed in her own kampong land for free, this govt took her land away for peanut and sell it back to us at sky high price. Who is exploiting who?

Well, the govt has the mandate from the turkeys who voted for christmas. What to do? Let's move on.

 

[myfoot123]

People also tend the to forget that the bank isn't lending their own money when they hand out a loan. It's money that belongs to depositors.

Those who rant and rave about how cruel banks are would be singing a different tune if they had a a $100,000 term deposit and the bank called them up and told them... "sorry.. we can't pay you back because of all the mortgage defaults we've had recently. We can't foreclose because it would be cruel so we're letting them stay on for free so that's why we can't pay you.".

Can't blame the depositor, it is the bank which made the wrong decision to lend money to default-prone individual. If the bank can open its eyes wide, this wouldn't have happened and tarnished its own image. They poor guy must have been victim of bad govt policies. He could afford his mortage in the past, but as their govt kept changing rules and sucking the peasants dry with high cost of livings like what PAP did, his repayments were compromised. I strongly believe having a bad leader and the bank are both culprit, not the common hardworking dweller of the house.

 

[Leongsam]

Can't blame the depositor, it is the bank which made the wrong decision to lend money to default-prone individual.

Housing loans are secured loans. Banks disburse the funds only because the house is mortgaged to the bank. Interest rates and lending criteria are based on this.

The bank made no mistake. They simply followed due process when a default occured. That's how secured loans work.

If the bank did nothing to recover a secured loan after a default, they'd be in breach of the laws under which they are allowed to operate.

 

[god_zeus]

Housing loans are secured loans. Banks disburse the funds only because the house is mortgaged to the bank. Interest rates and lending criteria are based on this.

The bank made no mistake. They simply followed due process when a default occured. That's how secured loans work.

If the bank did nothing to recover a secured loan after a default, they'd be in breach of the laws under which they are allowed to operate.

before argue any further
pls see thsi video
fast forward to 53mins
the banks dont really have any money either
they illegally create money and lend u, and force pple out when they cant pay the amount the illegally created...
<iframe width="560" height="315" src="http://www.youtube.com/embed/lEV5AFFcZ-s" frameborder="0" allowfullscreen></iframe>

 

[Leongsam]

before argue any further
pls see thsi video
fast forward to 53mins
the banks dont really have any money either
they illegally create money and lend u, and force pple out when they cant pay the amount the illegally created...

It depends how you define "illegal".

Banks have always operated based on loan-to-deposit ratio guidelines or legislation. The banking system as we know it today would not exist if banks could only loan out what they had collected in deposits and not a cent more.

No amount of financial manipulation alters the fact that nobody should stretch their debt beyond their means and simply hope for the best.

In the 1985 recession I came out unscathed because I saved $40,000 before buying a $100,000 home. I had colleagues and friends who used a similar amount in savings to buy 4 condos. When the recession came by, they lost tenants, couldn't service their loans and ended up losing their pants. That's the risk you take when you try to be smart.

On the other hand I had friends who turned $40,000 into a $400,000 bonanza because they sold at the right time.

You can play safe or you can take risks. It's a personal choice.

 

[myfoot123]

before argue any further
pls see thsi video
fast forward to 53mins
the banks dont really have any money either
they illegally create money and lend u, and force pple out when they cant pay the amount the illegally created...
<iframe width="560" height="315" src="http://www.youtube.com/embed/lEV5AFFcZ-s" frameborder="0" allowfullscreen></iframe>

Same way Temasek holdings and CPF operates. They started with Zero and than tax the people and made law compulsory for workers to deposit money into CPF, now what, the money became theirs and not ours.

 

[Ramseth]

That's why many people place the ownership of their homes in a trust so that it stays out of reach of any creditors.

Trust is for mortgage paidup fully owned property only, usually to avoid the conveyancing inconvenience and estate duty. But you're right in the principle of owe money pay money, can't pay with crying and screaming for sympathy. The laws are there and the bankers have to account to depositors and shareholders.

I've carried out duties like that before, i.e. eviction by force. It was as dirty and ugly scene as the video, even in Singapore. I took no pleasure but made no apology too.

 

[cass888]

My grandmother stayed in her own kampong land for free, this govt took her land away for peanut and sell it back to us at sky high price. Who is exploiting who?

That was not her land.

 

[hotbot]

then whose land, your master lbh's land huh?:oIo:

That was not her land.

 

[Ramseth]

That was not her land.

It's common in bigger countries to lease land and build own house. She'd have paid some years of mortgage repayments to worth something back, plus the foreclosure value of her house if the bank manages to auction it off, net of outstanding mortgage overdued and interests of course. But not optimistic, since they must find a bidder who likes both design of house and location of land.