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Indymac Boys Get Sweetheart Deal
No one is ever forced to obtain a loan, any type of loan for that matter.
Consequently, if you voluntarily elect to obtain one, you do so with your own consent, by proof of your signature on the loan docs. If you are too lazy, or too stupid to read, or responsibly comprehend the entirety of the banks contract, "which you signed and are now obliged to discharge all requirements of performance", then the you after the fact, now formally known as, "The Pidgin", or "Bank Asset" -- are then subject to those terms in whatever manner the bank decides to exercise, or be in default.
Note: While understanding the banks loan contracts does require a significant investment of time, and energy, it is only in discovering what is omitted from the contract, that the fraud becomes clear.
The bank never risked anything when they created the account to fund your real estate purchase. They did however, after your signing the devils contract, create the account for the full amount, in about the same amount of time it took for the ink/blood to dry on the paper. It was your signature that was the instrument of profit for the banks asset portfolio. After the account was created and funded, it was hypothecated and resecuritized, to then be sent on its merry way, and sold to yet more suckers in Ozzie and Harriet's world.
The banks don't care about the Real Estate, they never do. Their concerns lie primarily with the performance and service of interest payments, via the pidgin. The banks can only re-sell what produces income for the banks in the guise of steady interest payments. They don't even care about the principal, because for them, they never had anything into it to start with. They, the banks, function via the distribution of debt, promoted as credit on the front end. . . or lipstick on the pig.
Profit for banks, equate to one thing, "more and more interest payments".
Watch Here: http://www.youtube.com/watch?v=ssl5yb7FewA
Oct. 18, 2010