tag:blogger.com,1999:blog-18675105.post4250959210623949988..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: FLASH: New Century Mortgage Exposed: Lies. Cheating. Intimidation. Baseball bats. And a corrupt REIC spinning out of control.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-18675105.post-91553559188298325242007-05-25T21:43:00.000+01:002007-05-25T21:43:00.000+01:00This intimidation didn't limit itself to employees...This intimidation didn't limit itself to employees at New Century--our rep from their company knew we were in a financial delimma and a "deadline" position involving a medical procedure, which was why we agreed to refinance through them. When we got to the closing, the amount we were receiving in cash was $7,000 less than we were shown, two riders were added (one for a variable rate after two years which we were assured would raise our payments no more than $50 or so a month). We were basically not allowed to leave the building until we signed the loan. I remember sitting there in tears, telling them the facts and figures didn't match anything we'd been quoted and that the equity we were getting back also didn't match what we'd been told but knowing if I did not sign I could not get needed medical treatment. Insurance and taxes were supposed to be included in our payments, but they weren't--in fact, just a couple months after we refinanced our homeowners insurance was cancelled and we found the taxes had in fact not been paid.<BR/><BR/>We're now losing our house because <BR/>that "only about $50 more" has turned into almost $300 more, which we cannot meet on a veteran's pension.<BR/><BR/>These people are bottom feeders -- I hope someone catches up with them with a bat!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61490907586061049552007-05-08T18:40:00.000+01:002007-05-08T18:40:00.000+01:00I would have taken that bat, beaten him over the f...I would have taken that bat, beaten him over the fucking head with it, then I would have shoved it up his ass...then i would have gone for the wallet...have a good day sir.Billhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-49149006629468302042007-05-08T18:12:00.000+01:002007-05-08T18:12:00.000+01:00MBS, "mobster backed securities"this is organized...MBS, "mobster backed securities"<BR/><BR/>this is organized crime, the largest swindle from the fed reserve on down..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6526195034487586172007-05-08T16:44:00.000+01:002007-05-08T16:44:00.000+01:00"... You just cost me six thousand dollars - six t..."... You just cost me six thousand dollars - six thousand dollars and one Cadilac. That's right. What are you going to do about it?"<BR/><BR/>"Who ever told you that you could work with men?"<BR/><BR/>"WHAT YOU'RE HIRED FOR, is to help us... does that seem clear to you? TO HELP US, not to... F&%#-US-UP... to help those who are going out there to try to earn a living... You fairy. You company man."<BR/><BR/><BR/>Is New Century the sequal of Glengary Glen Ross????Unknownhttps://www.blogger.com/profile/09833211033844942379noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51028826318324311762007-05-08T15:54:00.000+01:002007-05-08T15:54:00.000+01:00Have any upside-down homeowners started killing th...Have any upside-down homeowners started killing their lenders yet? I remember a few such incidents following the dot-com crash. <BR/><BR/>Live by the bat, die by the bat.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28247489080255775152007-05-08T12:42:00.000+01:002007-05-08T12:42:00.000+01:00Lars, "Housing collapse (literally) $525,000 fixer...Lars, <BR/><BR/>"Housing collapse (literally) $525,000 fixer"<BR/><BR/>That was too much - half a mil' down the tubes. Maybe someone from New Century was upset at losing a deal and...hit it with a baseball bat!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-58023478475811991552007-05-08T07:10:00.000+01:002007-05-08T07:10:00.000+01:00Holly batshit ,the bat bashers got into the real e...Holly batshit ,the bat bashers got into the real estate lending offices. <BR/>Nobody had the balls to report the bat swinging creeps to the FBI .The real estate market is going to crash and burn Nationwide because of faulty fraudulent lending and nobody, not even the owners of the company, dared call the police .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26403243043077709382007-05-08T06:38:00.000+01:002007-05-08T06:38:00.000+01:00I'm not paying retail for a house!I'm not paying retail for a house!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-50684330421578215422007-05-08T06:36:00.000+01:002007-05-08T06:36:00.000+01:00The Retail Price of homes is still way too high. Y...The Retail Price of homes is still way too high. You would think that once they produced enough of them, the price would come down, just like X-boxes and Play Stations. I want to see someone put homes on sale at 40 to 50% off. This would reflect the true value of homes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57257673509863254472007-05-08T04:46:00.000+01:002007-05-08T04:46:00.000+01:00I'm glad this is all coming out so those New Centu...I'm glad this is all coming out so those New Century douchebags won't be able to find another decent job for the next few years. New Century will have the same stigma as EnronAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-64476160090743458532007-05-08T02:24:00.000+01:002007-05-08T02:24:00.000+01:00``Dow: Longest bull run in 80 years5:50pm: Blue-ch...``Dow: Longest bull run in 80 years<BR/>5:50pm: Blue-chip gauge matches 1927 record for longest up streak''<BR/><BR/>Let's hope that 2009 isn't like 1929 then.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85455514849148685652007-05-08T01:11:00.000+01:002007-05-08T01:11:00.000+01:00Anonymous said... Dow: Longest bull run in 80 year...Anonymous said... <BR/>Dow: Longest bull run in 80 years<BR/>5:50pm: Blue-chip gauge matches 1927 record for longest up streak<BR/><BR/>now STFU! <BR/><BR/>May 07, 2007 11:12 PM <BR/>-----------<BR/>The Dow has now risen in 23 of the last 26 sessions, marking its longest bull run since the summer of 1927, when the indicator ended higher in 24 of 27 sessions, according to Dow Jones. Should the Dow end higher both Monday and Tuesday, it would set a new record.<BR/><BR/>Then: Stock investing was directly highly leveraged with margin accounts.<BR/><BR/>Now: Stock investing is indirectly highly leveraged with HELOCs based upon overvalued housing assets.<BR/><BR/>FYI-Housing market & Stock market are two completely different markets with some overlap. Just ask the Oracle of Omaha.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55977156352825736362007-05-08T01:05:00.000+01:002007-05-08T01:05:00.000+01:00Housing collapse (literally) $525,000 fixer:http:/...Housing collapse (literally) $525,000 fixer:<BR/>http://tinyurl.com/2q82j3Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-65622805054128139602007-05-08T00:36:00.000+01:002007-05-08T00:36:00.000+01:00FIAT EMPIRE - Why the Federal Reserve Violates the...FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution<BR/><BR/>interesting to watch before the actual meeting tomorrow..<BR/><BR/>http://tinyurl.com/36rx9f<BR/><BR/>they are all in cohouts....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37757717743578824872007-05-08T00:12:00.000+01:002007-05-08T00:12:00.000+01:00Dow: Longest bull run in 80 years5:50pm: Blue-chi...Dow: Longest bull run in 80 years<BR/>5:50pm: Blue-chip gauge matches 1927 record for longest up streak<BR/><BR/>now STFU!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76713000268187473812007-05-07T23:53:00.000+01:002007-05-07T23:53:00.000+01:00I have been saying from the day I found out about ...I have been saying from the day I found out about sub-prime lending that it was the front line loan agents and their managers that allowed this fraud lending and appraisers would starve if they would not go along .<BR/><BR/>Now we find out that guys with bats came around to make sure loans were made . This is going to be a big scandal .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45532137802508629072007-05-07T23:06:00.000+01:002007-05-07T23:06:00.000+01:00"the firm had safeguards to make sure workers did ...<I>"the firm had safeguards to make sure workers did not feel pressure to approve questionable loans."</I><BR/><BR/><A HREF="http://www.youtube.com/watch?v=ahT9-jA40C8" REL="nofollow">Teamwork!</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18949872354179178942007-05-07T22:30:00.000+01:002007-05-07T22:30:00.000+01:00That was on the front page babyThat was on the front page babyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-58749050955643271932007-05-07T22:22:00.000+01:002007-05-07T22:22:00.000+01:00I checked the old neighborhood for homes and all I...I checked the old neighborhood for homes and all I can say is WOW!! I started out asking $519K. Lowered down to $509K, then $489K and sold in Jan for $472K.<BR/><BR/>There are now 11 homes for sale in the old subdivision of 103 homes. One of them has lowered all the way down to $429K and since my sale, nothing else has closed in almost 2 months.<BR/><BR/>Damn if I didn't make it out of there just in time!!<BR/><BR/>This is in Las Vegas.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13987796703464660582007-05-07T22:14:00.000+01:002007-05-07T22:14:00.000+01:00I can certify that this 100% happened on a large n...I can certify that this 100% happened on a large number of loans. New Century was able to "get value" on properties where other banks would cut the appraisals - along with other 'amazing' exceptions.<BR/><BR/>I know personally that sales reps would go in to the operations side and pressure underwriters, appraisal review folks, and just about any one else to approve their deals.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-7106522535145268562007-05-07T22:08:00.000+01:002007-05-07T22:08:00.000+01:00Two guys would come with a bat, and they were all ...Two guys would come with a bat, and they were all [ticked] off because you cut their deals<BR/><BR/>--------------------------<BR/><BR/>MBS must actually be Mob Backed Securities, eh?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-79043997118557602592007-05-07T22:06:00.000+01:002007-05-07T22:06:00.000+01:00To paraphrase the soothsayer:Beware the Frogs of M...To paraphrase the soothsayer:<BR/><BR/>Beware the Frogs of March<BR/><BR/>One of the most amazing aspects is the tendency of the masses to assume that everything that goes on behind closed doors at a financial institution is done with professionalism and deportment.<BR/><BR/>We continue to forget history, and fail to realize that the most money-hungry among us will stop at nothing to fill their greed (If such greed could ever be sated).<BR/><BR/>Human actions often disappoint me, but they seldom surprise me.<BR/><BR/>Here's hoping the bat-wilding ogres of new century wind up living in a mobile home somewhere.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-17606293032088540332007-05-07T21:15:00.000+01:002007-05-07T21:15:00.000+01:00These lenders are as shady as I imagined they are....These lenders are as shady as I imagined they are.Can you imagine someone acting like a prison warden running around the office with a baseball bat?I am glad the company is going bankrupt. Hopefully walmart will hire all the reject lenders out there.Oh, I hear hooters and go daddy.com are accepting applications for well endowed women.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80226421161122644732007-05-07T20:56:00.000+01:002007-05-07T20:56:00.000+01:00Home run!Home run!Out at the peakhttps://www.blogger.com/profile/10855394670202295976noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-92142567354642360182007-05-07T20:48:00.000+01:002007-05-07T20:48:00.000+01:00Shocked, I say, shocked. People were actually pre...Shocked, I say, shocked. People were actually pressuring the gatekeeper to stop watching the gates. <BR/><BR/>Seriously, I'm beginning to think that the REIC is far more devious than the DoD in using "weasel words". Consider the fact that almost all of you on this blog call it a home when it's really a house. Also, "row houses" (which my father proudly grew up in) became "row homes" then condominiums. Consider "duplex" or that - and this is the best one - apartments are now called "attached homes". <BR/><BR/>What I'm curious about is how all this bubble nonsense will affect the cost of undeveloped land over the next decade. Thoughts?Anonymousnoreply@blogger.com