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Strategies & Market Trends : Americans 4 "No Own - No Sell"
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To: Jorj X Mckie who wrote (343)10/4/2001 6:03:39 PM
From: Ga Bard  Read Replies (1) of 455
 
Nope, FDIC protects my interest. Any losses the bank takes not me.

My house??? HECK NO ... Becuase I go out, do the due diligence for schools, localtion and growth then decide to buy a “house” so I negotiate with the bank a loan based on fair value to buy this property. The bank and I agree on all the terms and I buy the house and make payments. Now I am the beneficial owner and the bank holds the title till I pay it off. Welcome to America Way!

Now with out me knowing someone goes into the bank and decides he wants to sell my “house” I just bought because he thinks I paid too much for it and the price is going to decline. Thus the case is made and bank sees greed to cover the position and make some money so the bank allows this person to use 50% ownership of my house to sell to someone else where they believe they have bought interest in a property. LOL... The new buyer believes they have bought 100% ownership in a “house” but have they so the sucker every minute is not quite applicable. The borrower does not own anything really because he will have to buy this interest later in the future.

Then later I sell the “house” then the bank tells this someone they have to give back the ownership they borrowed. Now either the bank can borrow from another source or you go to buy property to cover the bank because the bank has to deliver full ownership to the original owner.

I think they put people in jail for this "scheme" ... wouldn;t you agree. SO please do not use a house or a car in trying to justify because it does not wash and clearly shows that if what is going on in the market is only place legalized theft can occur.

P2bAAAT * DSAS
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