The Banks didn't use their money for the loans; they used the Hedge Funds and Trusts that lent them money. Now here is the catch. Those Funds knew that they would have to wait 30 years for the payoff of those home loans. They also got PMI which was insurance so that if the borrower defaulted then the lender would get the money. They repossessed most of those homes. They also got the Bail Out Bill. This means they got paid 4 times basically, in a 5 to 7 year period instead of 30 years.
I just wonder if anyone asked the question why the Hedge Funds couldn't wait the original 30 years that they were supposed to before they got paid.
Is there some reason that I missed that we needed to pay people off early?
Why did they need to be paid right then and couldn't wait 25 to 27 years for loan to be paid off naturally?
If the interest rate and ARM Loan Payments were a problem, then why didn't the Banks go back to the borrowers and the Hedge Funds and make them fix the rate?
Is there some reason why someone didn't use the word NO in those conversations?
Didn’t it dawn on anyone that we were paying these mortgages off almost 20 years early?
Where did the Hedge Funds take the money from the Bail Out Bill?
Well most Hedge Funds are backed by big Insurance Companies, so where do you think it went?
If nothing else I have made you mad but you are now thinking about it!
No comments:
Post a Comment