Why would they? They are flush with tax money.
A good friend of mine last night was awakened at 2 A.M. by a repo guy. They told him that they had to take the vehicles, but that he could call in the morning, get paid up to be current and get them back. They cleaned out their belongings, except the R.V. had a ATV inside of it. " Don't worry, you can get it in the morning. "
He called the lender to get current, and they said no thank you, the three vehicles will be sold at auction and he will be billed for the difference. He was two months late. One car, a truck and a RV trailer. Now he can't get his atv back without a $248.00 fee, and an additional $48.00 per day in storage.
The fact is, these banks now need to have as many defaults as they can because that entitles them to more bailout money.
The system is breaking down. The politicians have given the banks too much power.
They have made public the risks while the profits stay private.
I have never seen so many bad things happen to so many good people. He is self employed, like me. HE was making 10k per month but the economy has seen that cut in half. There is no negotiating with the banks. All they are interested in is harvesting wealth.
By about September of this year, expect major news regarding the economy. As in, it will be much, much worse than it is now.
A good friend of mine last night was awakened at 2 A.M. by a repo guy. They told him that they had to take the vehicles, but that he could call in the morning, get paid up to be current and get them back. They cleaned out their belongings, except the R.V. had a ATV inside of it. " Don't worry, you can get it in the morning. "
He called the lender to get current, and they said no thank you, the three vehicles will be sold at auction and he will be billed for the difference. He was two months late. One car, a truck and a RV trailer. Now he can't get his atv back without a $248.00 fee, and an additional $48.00 per day in storage.
The fact is, these banks now need to have as many defaults as they can because that entitles them to more bailout money.
The system is breaking down. The politicians have given the banks too much power.
They have made public the risks while the profits stay private.
I have never seen so many bad things happen to so many good people. He is self employed, like me. HE was making 10k per month but the economy has seen that cut in half. There is no negotiating with the banks. All they are interested in is harvesting wealth.
By about September of this year, expect major news regarding the economy. As in, it will be much, much worse than it is now.